Toys R Us Acquiring Educational Toy Chain

Associated Press

Toys R Us Inc. took another step to restructure its business with the purchase of educational toy chain Imaginarium, a move that will greatly expand its offerings of learning and specialty toys. Privately held Imaginarium will keep its name on its 41 stores, which are located in 13 states, while an area of Toys R Us' stores will be branded Imaginarium. Terms of the deal were not disclosed. Paramus, N.J.-based Toys R Us has been reorganizing its business over the last year, amid slumping sales and profit in the face of tough competition from other discount retailers. Investors shrugged off the deal, keeping Toys R Us shares unchanged at $17 on the NYSE. Imaginarium is based in Saddle Brook, N.J.

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