The Blokker group has sold its Dutch toy store chain Intertoys to British investment house Alteri Investors. Financial details were not disclosed.
Intertoys operates around 500 stores in the Netherlands, Belgium, Germany and Luxemburg and has more than 4,000 employees.
Alteri chairman Gavin George said in a statement that the company will be further transformed into ‘an omnichannel retail business, which is the best way to safeguard the health of the company’.
Although the toy sector has faced problems in recent years, Alteri’s goal is for Intertoys integrate ‘appealing local stores’ with online services and webshops, he said.
Blokker in May said it would sell Intertoys, Xenos and all its operations which do not carry the Blokker name.
The budget furniture store group Leen Bakker has already been sold to investment group Gilde Equity Management which owns the similarly-sized and targeted Kwantum stores.
Blokker Holding posted a loss of €180m last year as the cost of reorganisations pressured group results.