BluSun Capital acquires Ri Happy and Héctor Nuñez returns as CEO

In the column, the new management of Ri Happy —the company that controls the eponymous brand and PBKids— promises to create "the best seasonality in history". Last Monday (31), the company was purchased by the limited company BluSun Capital Partners. The operation returned Héctor Nuñez to the position of CEO — the Cuban executive led the company for eight years, from 2012 to 2020.

"The first priority will be to get to know the company in depth, monitor the operation and listen to employees, franchisees, suppliers and partners. And ensure that we have the best seasonality in our history", says the CEO.

In June, two months ago, the column anticipated the restructuring of Ri Happy, which began investing in experiences for customers within stores. The new direction is a way of depending less on toy retail, which is now competing with the children's market with technology, according to analysts consulted by the column.

Behind the scenes, analysts see the new CEO as experienced in the market, having worked for companies such as Walmart and Ri Happy itself. The new management, however, will have to prove itself with better performance in the second half of the year, with important dates for the segment: Children's Day, Black Friday and Christmas. The market expects the restructuring to be on the back burner until January.

New focus

Under the former CEO, Thiago Rebello, he wanted to position Ri Happy as a children's entertainment network, that is, to move away from dependence on in-person retail. So far, the new management intends to continue the project.

At the time of the announcement of the reformulation under the former owner, SPX Capital, of the company's strategy, the chain expected a 40% boost in sales per square meter from June.

At the inaugural unit of the new format, at MorumbiShopping, in São Paulo, the company started its service front called Divertudo. Themed toys, monitored experiences and activations are some of the first projects.

The plan is to add workshops, seasonal events and new attractions linked to the children's universe and the behavior of new generations.

Acquisition

The buyer, BluSun Capital, was registered 22 days ago, according to registration with Jucesp (Commercial Board of the State of São Paulo), with just one partner. The documents show that BluSun is a wholly owned subsidiary of SVQVS Investimentos, a company chaired by Núñez.

In August 2023, Ri Happy restructured a debt of R$289 million, most of which matured in December 2027 and December 2028 — an interval considered short for retail.