British multinational Sports Direct has reached a strategic deal with Toys 'R' Us to buy six of its out-of-town stores in Spain for 34 million euros and help the toy giant to relaunch itself in the country.
The sale and leaseback agreement means that Toys 'R' Us will now rent space in the units which it will share with the Sports Direct brand.
The buildings changing ownership are in Alcobendas (Madrid), Sant Boi (Barcelona), Granada, Valencia, Malaga and Pamplona, according to property consultants, Cushman & Wakefield, who advised on the deal.
Sports Direct is the market leader in sports fashion in the UK and will now roll out in these new locations, including on the Costa del Sol. The firm has over 700 shops worldwide with just three in Spain at the moment. Toys 'R' Us has 59 stores in Spain.