Galway Bay fm newsroom - Smyths Toys, which is headquartered in the city, is to pay up to 79 million euro for the central European division of Toys R Us.
The deal has been agreed as part of the US liquidation of the Toys R Us group.
Toys R Us has 90 outlets in Germany, Austria and Switzerland.
According to the Irish Times, the deal is expected to lead to a major expansion of the Smyths brand across the continent.
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When the deal is complete, Smyths will have up to 200 outlets which includes 28 in Ireland.
The firm is owned by a Mayo family and has its city base at Galway Retail Park on the Headford Road.
