House of Fraser’s Chinese owner is poised to buy Hamleys toy shop from its French owner Groupe Ludendo.
The chairman of Nanjing-based Sanpower Yuan Tafei is reported to be talks with the owners of the 255-year-old toy shop, which already has concessions in House of Fraser, according to The Sunday Times.
Tafei is looking for more businesses to acquire in the UK, the newspaper reports. Last year Sanpower made its first acquisition in the US, of a gadget retailer called Brookstone.
Sanpower bought HoF from its management team and a group of Icelandic banks in a deal worth £480m a year ago. HoF is poised to open three stores in Nanjing, Xuzhou and Chongqing in China starting in spring next year.