KB Toys Buys More eToys Assets
Page 1 of 1
Pittsfield, Mass.-based KB Toys, which bought the remaining inventory from the bankrupt eToys in April, said today that it is spending another $3.35 million "for certain eToys intellectual property assets and services."
Privately held KB says it is the nation's largest combined mall-based and online specialty toy retailer.
The assets purchased today include eToys' trade names, logos, URLs and trademarks. eToys also has agreed to provide certain e-mail services for KB Toys, including contacting its customers with information about how they can continue their online toy shopping via KBkids.com.
KB Toys said it will integrate the acquired assets into its Denver-based KBkids.com operation.
"We will use these new assets to further enhance the customer convenience of shopping through KBkids.com," said Michael L. Glazer, KB Toys' CEO. "We have maintained all along that the 'bricks and clicks' formula, which offers customers both store and online shopping options, would allow customers the most flexibility and be the most successful in the long term."
KB Toys went private in December 2000 through a management buyout in partnership with Bain Capital Inc.
eToys, which once had a $10 billion market valuation, filed for bankruptcy on March 7. eToys has been selling off its assets to help satisfy shareholder claims and creditors.