An affiliate of Sun European Partners announces that it has completed the sale of Famosa
Sun European Partners, LLP (“Sun European Partners” or “Sun”) today announces that one of its affiliates has completed the sale of Fábricas Agrupadas de Muñecas de Onil, S.A. (“Famosa” or “the Company”), a leading designer, developer, manufacturer and distributer of toys in Spain and throughout the world, to Giochi Preziosi S.p.A..
Famosa, headquartered in Alicante, Spain, owns and has developed several well-known and successful brands including Nenuco, Pinypon, Nancy, Bellies, Barriguitas, and Feber. Strong recognition of Famosa within Iberia and Mexico has also made Famosa one of the preferred partners for Toys distribution within those territories.
Famosa was acquired by an affiliate of Sun European Partners in 2010. Since acquisition, Famosa has become the market leader in the overall toy industry in Iberia, building a strong presence in dolls, outdoor & sports and plush. Leveraging the Sun Transformation System to achieve this success, Famosa focused on key brands, strengthened its management team, as well as optimised organizational efficiencies in the areas of working capital, purchasing and logistics.
Chris Carney, Principal at Sun European Partners, said: “We have seen significant progress working with Famosa. The business has become the leading producer of toys for the Iberian region and is well positioned for future growth and beyond.”
Marie-Eve Rougeot, Chairman & CEO of Famosa said: “I am extremely proud of what we have achieved as a team over the recent years with Sun as a partner, to make Famosa what it is today, a key player and a true leader in the toy industry. My team and I are looking forward to exciting new opportunities under the new ownership of Giochi Preziosi who values our brands and our business model.”