Scholastic Buys Baby Club
by Jim Milliot -- Publishers Weekly, 4/15/2002
Scholastic added to its domination of the children's book club market last week with the purchase of Baby's First Book Club from the Norwegian publisher Sandvik AS. The club markets books and toys to families with babies up to eight months old and had revenues of $11 million last year. Purchase price was $7.5 million.
Scholastic will retain the Baby's First Book Club name and integrate the business into its direct-to-home operations. The club's back-office operations, currently located in Bristol, Pa., will be moved to Scholastic's Jefferson City, Mo., facility over the next 12 to 18 months. Scholastic chairman Dick Robinson said the purchase "expands our reach to new parents and enhances our ability to establish relationships with young families."
