Scholastic Inc., New York, has acquired Teacher’s Friend Publications Inc., a classroom decorative items marketer. The purchase price was approximately $6 million.
Teacher’s Friend sells bulletin boards, borders, name plates, charts, maps, stickers, posters and stationery, as well as teacher resource books. Karen and Richard Sevaly, who founded the company in 1986, will remain with Scholastic.
“We can provide more support for the teachers we serve by making Teacher’s Friend products available through Scholastic’s unique proprietary channels such as Book Clubs, Book Fairs, direct mail, and our newly launched Teacher Store on Scholastic.com,” Dick Robinson, Scholastic’s CEO and President said in a statement.
Teacher’s Friend will become part of Scholastic’s Teaching Resources Division. The Sevalys will continue to run it from its Riverside, CA location.
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