Scholastic Buys Baby's First Book Club
Scholastic Inc. has paid Norwegian publisher Sandvik AS $7.5 million for Baby's First Book Club, a direct marketer of books and toys for young children.The acquired book club's products and customer database will be melded into the Scholastic at Home direct-to-home marketing channel for books and media aimed at youngsters up to 12 years old. Scholastic is the world's leading publisher and distributor of children's books.
"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," Dick Robinson, chairman and president/CEO of Scholastic, said in a statement.
Baby's First Book Club last year reported net revenue of nearly $11 million. The club uses mail and telemarketing to target families with babies up to 8 months old. Products offered include cloth books and toys meant to boost the child's development at the earliest stages of learning.
