Educational Development (EDUC) Acquires SmartLab Toys

Educational Development Corporation (NASDAQ: EDUC) today reports acquisition of SmartLab Toys, a creator of S.T.E.A.M. toys and games that focus on hands-on, educational experiences to encourage kids to develop skills in the core disciplines of Science, Technology, Engineering, Arts, and Math.

SmartLab Toys sells their products in the US and internationally through established local retailers and national distributors. SmartLab Toys net sales averaged approximately $6.5 million for the past two years. The acquisition of SmartLab Toys is expected to be completed during the Company's fiscal third quarter and the Company expects to begin selling SmartLab Toys products through the Company's UBAM and Publishing sales channels in January 2023.

"We are pleased to announce that we have purchased SmartLab Toys from Quarto Publishing Group and retained key members of their production and development team," stated Craig White, President and Chief Executive Officer. "SmartLab Toys has five primary product lines and is known for creating top quality S.T.E.A.M. and S.T.E.M. products for the past 18 years. SmartLab Toys is well aligned with our mission of expanding children's literacy and offering educational products that inspire young minds. We expect to introduce a select group of SmartLab Toys' products in January and will expand on this initial release with additional products throughout next year."

Alison Goff, Executive Director and Group CEO of Quarto Group commented, "Quarto purchased SmartLab Toys as part of the becker&mayer! publisher acquisition in 2016. We are pleased that the SmartLab Toys business, which falls outside of our core book publishing focus, has found a new home with Educational Development Corporation. We look forward to the continued success of SmartLab Toys under its new ownership with expanded sales distribution."

You May Also Be Interested In

• Staffing 360 Solutions (STAF) Receives Nasdaq Non-compliance Notice
• FTC Moves to Block Tapestry’s (TPR) Acquisition of Capri (CPRI)
• TopBuild (BLD) Announces Mutual Termination of Deal to Acquire Specialty Products and Insulation