Putman Investments to acquire Toys “R” Us and Babies “R” Us Canada

Torys acted as counsel to Fairfax with a team that included David Chaikof, Thomas Yeo, Janan Paskaran, Michele Qu, Alisse Elliott (corporate/M&A), Simon Williams and Rebecca Jenkins (lending) Andrew Bedford, Andy Gibbons, Tyrel Henderson and Michael Coleman (real estate), Ed Fan (IP), John Tobin and Benjamin Mann (tax).

On August 19, 2021, Putman Investments (“Putman”) confirmed its intention to purchase Toys “R” Us and Babies “R” Us Canada, from certain affiliates of Fairfax Financial Holdings Limited (“Fairfax”).

Fairfax, who acquired the iconic toy retailer's Canadian assets following the insolvency proceedings of its U.S. parent in 2018, will retain substantially all of the real estate acquired in the original purchase and, through a continuing royalty stream, will have an opportunity to benefit over time in the future success of the business.

Further information can be found on Business Wire’s website.

Toys "R" Us Canada has been Canada’s dedicated specialty retailer of toys and baby products since 1984. The company brings national brands, exclusive products, innovative loyalty programs and unique partnerships to Canadians at its over 80 stores across Canada and through its ecommerce sites.

Putman is a Canadian-based, family-owned company.

Fairfax is a holding company whose corporate objective is to achieve a high rate of return on invested capital and build long term shareholder value.