NEW YORK, March 27, 2019 /PRNewswire/ -- Scholastic
Corporation (NASDAQ: SCHL), the global children's publishing,
education and media company, announced today that its wholly-owned
subsidiary Scholastic UK Limited has completed the acquisition of a
majority ownership position in Make Believe Ideas Limited ("MBI"),
the innovative UK-based publisher of children's books founded by
Jo Bicknell in 2004. Currently
publishing over 100 titles a year, MBI is known for creating
high-quality, affordable books for young children and babies, with
distribution in the US and around the world largely through mass
merchants. Ms. Bicknell will retain an ownership stake in the
company, remain on the MBI board of directors and continue to serve
as its chief executive officer. Financial terms of the transaction
are undisclosed.
"Jo and the MBI team have been extraordinary partners on this
journey. In less than four years, our collaboration has produced a
bestselling Scholastic-branded line of books for early childhood
with beautiful, inventive elements that invite kids to touch, play,
discover and learn," said Ellie
Berger, Scholastic Executive Vice President and President,
Trade Publishing. "With 11 million books already in print, we look
forward to expanding our publishing program to engage and inspire
even more children around the world."
The acquisition builds on the relationship established in 2015
when Scholastic announced its initial minority equity stake in MBI.
The first co-branded offering from the two companies was the Fall
2015 global English-language release of Scholastic Early
Learners, a set of brightly colored, interactive books that
encourages activity-based learning in multiple formats.
"Our relationship with MBI reflects our commitment to invest in
partners who share our passion for creating world-class content and
innovating new ways of engaging children in reading and learning,"
said Iole Lucchese, Scholastic Chief
Strategy Officer. "We are committed to ensuring the editorial
independence of MBI now and in the future, and preserving their
heritage of creativity and innovation."
"The first four years of partnership with Scholastic have been
full of hugely innovative books, delicious opportunities and
enormous fun," said Jo Bicknell,
founder of MBI. "I could not be more passionate about what the
coalition of MBI and Scholastic will continue to achieve."
About Scholastic:
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 ebooks, 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 14
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.
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SOURCE Scholastic