Indian retailing company Reliance Brands, a subsidiary of Reliance Industries, has agreed to purchase British toy company Hamleys Global Holdings Ltd. for 68 million pounds ($88.6 million) in cash.
Reliance Brands noted that the company will buy a 100 percent stake in Hamleys from Hong Kong-based C Banner International.
The company added that the transaction will enable it to be a dominant player in the global toy retail industry.
Annually, Reliance Industries has approximately $76.2 billion in revenue.