rénatal Retail Group, the joint venture established in 2015 between the Artsana and Giochi Preziosi groups in order to create a single distribution structure, will undergo a structural change. After a lengthy negotiation, the parties have agreed on the need to refocus their activities under single ownership for the faster and more effective adoption of new operating models. The distribution of toys and childcare products must recover profitability with the growth in managed assets.
According to the original intentions, the Prénatal Retail Group already represented the Italian toy hub which presents their respective active brands in the retail sector, from Prenatal to Toys and Bimbo Store. Since 2015, the joint enterprise has united 4 retailers: Toys Center, Prénatal, Bimbo Store and French retailer, King Jouet. In addition to Italy and France, Prénatal Retail is also active in Spain, Portugal and Greece, boasting a total network of 672 outlets plus 36 Bimbo store corners, with an annual turnover of approximately 1 billion euros, 25 million customers served and 470,000 square metres of sales area. In turn, King Jouet boasts 239 stores, 152 of which are direct, and also extends into Switzerland and Belgium.
Artsana, controlled by Andrea Bonomi’s firm, Investindustrial, will take over 50 per cent of the Prénatal Retail Group from Preziosi for 105 million euros: 97 million euros for the purchase of the investment and 8 million euros for the compensation of the sum paid, pro-quota, by Preziosi in the 16 million share capital increase launched last March.
However, the European Commission for Antitrust must now give their opinion, which will be the definitive green light to close the deal. Given the size and volumes of the Prénatal Retail Group, it is governed by the jurisdiction of the European commission. Naturally, both Artsana and Giochi Preziosi rely on the EU Commissioners’ acceptance, seeing as how the operation itself is very simple: it is only the acquisition of participation. If the agreement is approved, Artsana will become the absolute leader in the national distribution of toys.