NEW YORK, Dec. 20, 2019 /PRNewswire/ -- Scholastic Corporation (NASDAQ:SCHL), the global children's publishing, education and media company, announced today that its wholly-owned subsidiary Scholastic Book Fairs, Inc. has completed the acquisition of the assets of Pomona, California-based Mrs. Nelson's Book Fairs, Inc. ("Mrs. Nelson's"), pursuant to the terms and conditions of a Purchase and Sale Agreement dated October 25, 2019. Financial terms of the transaction are undisclosed.
"We could not be more pleased to include the Mrs. Nelson's brand of premium school book fairs with Scholastic's comprehensive fair offerings as we continue as the unrivaled leader in the field supplying over 115,000 book fairs annually," said Alan Boyko, President, Scholastic Book Fairs, Inc. "For over three decades, Judy and Byron Nelson have delivered on their promise to schools with high quality fairs, great selection and white glove service and we are proud to carry on that tradition. Combined with our own commitment to schools, teachers, parents and students, this acquisition will reflect the best that each legacy firm has to offer, providing our customers expanded options for an outstanding book fair experience with the best books and stories, rewards with Scholastic Dollars™, eWallet and on-line shopping options, and a dedicated book fairs expert to provide support every step of the way.
Mr. Boyko continued, "Scholastic welcomes the continued collaboration of Laura Nelson and the rest of Mrs. Nelson's book fair employees as we look to retain and expand the Mrs. Nelson's distinct brand of book fairs to engage and inspire even more children throughout the Southern California region."
"We are so proud of what we have accomplished over the years, helping schools succeed and encouraging the love of reading among children," said Judy Nelson, President and founder of Mrs. Nelson's Book Fair Company. "As we turn the page on this chapter in our lives, we are comforted to know that our legacy will continue under the thoughtful ownership of Scholastic who remains dedicated to our mission. We are thankful for all Mrs. Nelson's book fair employees and their passion and commitment throughout the years, as well as for the close partnerships we have enjoyed with our school sponsors throughout the region."
Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of children's books, a leading provider of literacy curriculum, professional services and classroom magazines, and a producer of educational and entertaining children's media. The Company creates and distributes quality books and e-books, print and technology-based learning programs for pre-K to grade 12 and other products and services that support children's learning and literacy both in school and at home. With 15 international operations and exports to 165 countries, Scholastic makes quality, affordable books available to all children around the world through school-based book clubs and book fairs, classroom libraries, school and public libraries, retail and online. True to its mission of 99 years to encourage the personal and intellectual growth of all children beginning with literacy, the Company has earned a reputation as a trusted partner to educators and families. Learn more at www.scholastic.com.