writenews.com
|
Friday, April 5, 2002 Scholastic Acquires Baby's First Book Club Scholastic Corporation, a children's publishing and media company, announced that it has acquired Baby's First Book Club, a direct marketer of high quality, age-appropriate books and toys for young children, from Norwegian publisher Sandvik AS for $7.5 million. Baby's First Book Club had net revenue of approximately $11 million in its fiscal year ended 12/31/01. Baby's First Book Club products and customer base will be integrated into the Scholastic direct-to-home marketing channels which currently serve children ages 0 to 12. Through direct mail and telemarketing, Baby's First Book Club targets families with babies between 0 and 8 months, offering information and products such as cloth books and toys to enrich their child's development at the earliest, most critical stages of learning. The company matches continuity shipments to each child's specific developmental stage. Richard Robinson, Scholastic's Chairman, President and CEO, said: "Baby's First Book Club has set the standard for unique books and products giving young children the right material at exactly the right developmental time. The company is a brilliant direct marketer with a keen understanding of how to target and serve new parents and their children effectively. Baby's First Book Club is a natural addition to Scholastic's growing direct-to-home continuities business, expanding our reach to new parents, and it will enhance our ability to establish relationships with young families."
Click here to return to the homepage of The Write NewsTM Click here to subscribe to our free weekly email newsletter.  www.writenews.com Copyright © 1997-2011 by Writers Write, Inc. All Rights Reserved. |
