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Smyths Toys puts €175m into mainland European business

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Irish toy giant Smyths Toys has provided its mainland European business with a capital injection of €175m.

The move by the Galway headquartered family owned firm follows its European arm being the group's most profitable unit in 2020.

The group’s mainland European business accounted for 42% of the group’s pre-tax profits of €26m for 2020. The group also operates 113 stores in England, Scotland, Wales and Northern Ireland, along with 21 here. The capital injection of €175m now provides Smyths Toys with the necessary financial firepower to continue its expansion in mainland Europe.

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