Sunman says this deal represents an important step towards strengthening its presence in international markets.
Sunman, the Turkish market leader in toy specialist retail, distribution and production, has acquired 100% of the shares of Romania’s largest toy brand, Noriel. Combining its 38 years of experience with Noriel, Sunman aims to strengthen its presence in international markets, to increase its product range and to reach a significant volume, especially in toy exports.
Sunman started its business with a branded toys distributorship 38 years ago in Istanbul and now runs almost 250 stores in Turkey and North Cyprus with its retail brand Toyzz Shop. It has also become an important player in domestic toy production with its factory in Gebze, Kocaeli. Sunman opened its first overseas store in Kosovo in July, taking the first step towards its aim of becoming a global toy brand; the acquisition of Noriel marks the next important step.
Noriel is recognized as the leading toy brand in the Romanian market. Starting out as a family business in the 1980s, Noriel continued its growth after being acquired in 2016 by Enterprise Investors, one of the largest private equity firms in Central and Eastern Europe. Today, it operates across Romania with 88 modern stores and a powerful online platform covering Bulgaria. Noriel has established itself as a one-stop shop for kids and parents in the region.
Cem Sunman, chairman of the Board of Directors of Sunman Group, commented: “Noriel is our first acquisition project abroad. Our company started its business life 38 years ago with the distribution of leading branded and licensed toys in Turkey with the motto ‘Toys are our business’. We have since signed distributorship agreements with more than 60 brands from across the world. We opened our first Toyzz Shop store in the early 2000s, and today we have reached 250 stores in more than 50 cities. In 2017, we invested in a 12,000m factory in Gebze to switch to domestic production, and we have become an important toy manufacturer employing 250 people.
“Within the framework of our export-oriented growth strategies, we have been evaluating opportunities for inorganic growth for a long time. We consider our acquisition of the Romanian brand Noriel as an important step which will increase our international market share and our presence in the region, as well as supporting our exports.”