Edited Press Release
LONDON -(Dow Jones)- Home Retail Group, a home and general merchandise retailer, Tuesday announced it has signed a contract to acquire certain rights to the Chad Valley toy brand.
The purchase price of GBP5.0 million in cash is being paid to Woolworths plc (in administration). Neville Kahn, Nick Dargan and Daniel Butters of Deloitte LLP were appointed Joint Administrators of Woolworths plc on Nov. 27, 2008.
The purchased rights are for exclusive use of the Chad Valley name and associated trademarks both in the U.K. and internationally.
The brand has very strong heritage, with independent research confirming high recognition amongst U.K. consumers.Chad Valley will complement Argos' existing toy business and help to consolidate Argos' position as the number one toy retailer in the U.K.
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