Scholastic Acquires Assets of Pages Book Fairs

Posted on June 26, 1998

Scholastic Corporation (announced that its wholly-owned subsidiary, Scholastic Inc., has acquired certain assets of Pages Book Fairs, a wholly-owned subsidiary of Pages, Inc., for $10.5 million. Acquired assets include inventory, book fair cases, and U.S. customer list.

Richard Robinson, President, Chief Executive Officer and Chairman of Scholastic, stated, "We are pleased to have acquired Pages Book Fairs assets and look forward to working with Pages Book Fairs sponsors to deliver quality book fairs and services to these schools while creating additional value for Scholastic. This acquisition will allow Scholastic to significantly increase our annual number of book fairs across the United States beginning as early as this fall."

Scholastic Book Fairs operates book fairs nationally, reaching more than 35 million children annually through school organized events offering wide varieties of books and products usually for a one-week period. Sponsored by school librarians and parent-teacher organizations, which use these book fairs as school fund raisers, book fairs offer children thousands of educational and pleasure-reading book titles.