MMAC, LLC will acquire Trudy Corp. Under the terms of the agreement, MMAC will take possession of all Trudy assets save for $2.7 million in debt owed to the principal shareholder and chairman of Trudy, William W. Burnham.
Ashley Andersen Zantop, CEO and president of Trudy, Fell Herdeg, CFO, and Burnham, Director of Corporate Development, will be retained as employees by MMAC on substantially the same terms as their current employment with Trudy. Burnham and Ms. Andersen Zantop will join the board of directors of MMAC.
Trudy Corp. publishes educational story books, read along audiobooks and plush toy manipulatives under licenses with the Smithsonian Institution, American Veterinary Medical Association and the African Wildlife Foundation. Its direct response holdings include bought MusicForLittlePeople.Com and the companion direct mail catalog, which it purchased in 2008 to build the company’s direct to consumer and library business.
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