Educational Development Corporation completed the acquisition of SmartLab Toys, Inc. from The Quarto Group, Inc..
February 28, 2023
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Educational Development Corporation (NasdaqGM:EDUC) signed an agreement to acquire SmartLab Toys, Inc. from The Quarto Group, Inc. (LSE:QRT) for $0.77 million on October 26, 2022. As of January 6, 2022 Cash used in investing activities was $1.2452 million for capital expenditures, consisting of $0.6582 million associated with the purchase of SmartLab Toys. As of May 17, 2023 $0.77 million associated with the purchase of SmartLab Toys. SmartLab Toys generated net sales of approximately $6.5 million for the past two years. The transaction is expected to close by November 30, 2022.
Educational Development Corporation (NasdaqGM:EDUC) completed the acquisition of SmartLab Toys, Inc. from The Quarto Group, Inc. (LSE:QRT) In fiscal year February 28 , 2023.
The Quarto Group, Inc. is a United Kingdom-based illustrated book publisher. The Company creates a variety of books and intellectual property products. The Companyâs products are available in many formats for adults, children and the whole family. The Company encompasses a diverse portfolio of imprints and businesses, which develops long-lasting content across specific niches of interest. The Company sells and distributes its products globally in over 50 countries and 40 languages, through a variety of sales channels, partnerships and routes to market. The Company has two segments: US Publishing and UK Publishing. Its publishing is focused on its categories, such as arts, crafts and hobbies; cooking; fiction; gardening, house and home; health and spirituality; history, biography and culture; kids and teens; math, science and nature; stationery and gifts; transportation, and travel and recreation. Its imprints include becker&mayer! books, becker&mayer! kids, Chartwell Books and others.