Educational Development Corporation Announces Strategic Acquisition of Learning Wrap-Ups
Tulsa, Oklahoma–(Newsfile Corp. – November 1, 2021) – Educational Growth Company (NASDAQ: EDUC) (“EDC”, or the “Company”) now declared that the Company has executed a Letter of Intent to buy Finding out Wrap-Ups, Inc.
“We are happy to purchase Learning Wrap-Ups and have their management team, Ron and Prosperous Stuart, be a part of our EDC relatives. The supplemental solutions of Understanding Wrap-Ups had been to begin with established above 35 many years back and we have marketed these high-high quality educational applications as a result of our UBAM division for more than 25 years. Mastering Wrap-Ups solutions, including the Learning Palette products line, have a long profits record and keep on to enchantment 12 months just after year to pre-college and school-aged kids. This makes them a normal healthy into our present Usborne and Kane Miller merchandise traces, which present titles that continue to stand the test of time,” stated Craig White, President and Chief Govt Officer of EDC.
“We have labored with EDC and the White spouse and children for pretty much 3 many years and are enthusiastic to be section of the corporation. EDC has a extensive heritage of giving high quality discovering goods to the two educational facilities and residences. We are confident that the unique product sales and distribution solutions utilized by EDC will improve the profits of Wrap-Up items appreciably,” stated Ron Stuart, operator of Finding out Wrap-Ups.
Mr. White concluded, “Understanding Wrap-Ups has annual revenue of around $1.5 million and the buy cost, resembling the value of the net assets obtained, will not materially effect the Company’s financials. We expect to maximize the over-all sales of Understanding Wrap-Up products and solutions by EDC’s present Publishing and UBAM sales channels whilst also capitalizing on enhanced margins by proudly owning Finding out Wrap-Ups completely.”
About Academic Enhancement Company (EDC)
EDC is a publishing firm specializing in guides for children. EDC is the exclusive United States trade co-publisher of the line of instructional kid’s guides developed in the United Kingdom by Usborne Publishing Confined (“Usborne”) and we also solely publish books via our possession of Kane Miller Book Publisher (“Kane Miller”) both global award-successful publishers of children’s guides. EDC’s recent catalog consists of pretty much 2,000 titles, with new additions semi-every year. Both equally Usborne and Kane Miller merchandise are offered by means of 4,000 retail outlets and by impartial consultants, who maintain book showings either on the net or in homes, ebook fairs with school and community libraries, immediate and world wide web gross sales.
About Discovering Wrap-Ups, Inc. (LWU)
Learning Wrap-Ups publishes a variety of supplemental studying components for math, vocabulary, and science and all goods involve special self-correction capabilities. The Firm’s most well-known goods contain Discovering Wrap-Ups and Finding out Palette. The enterprise was established in 1983 and is owned by brothers Ron and Loaded Stuart.
Get hold of:
Educational Growth Corporation
Craig White, (918) 622-4522
Investor Relations:
Three Aspect Advisors, LLC
Steven Hooser, (214) 872-2710
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The facts mentioned in this Press Launch contains “forward-hunting statements.” These forward-searching statements are recognized by their use of terms and phrases these as “may perhaps,” “count on,” “estimate,” “venture,” “system,” “consider,” “intend,” “achievable,” “foresee,” “continue on,” “opportunity,” “should,” “could,” and identical terms and phrases. Despite the fact that we believe that that the expectations mirrored in these forward-seeking statements are acceptable, they do entail particular assumptions, dangers and uncertainties and we can give no assurance that this kind of anticipations or assumptions will be realized. Acknowledged and unknown pitfalls, uncertainties and other components may possibly cause our actual success, general performance or achievements to be materially various from any foreseeable future final results, effectiveness or achievements expressed or implied by forward-on the lookout statements. Elements that could result in or contribute to this sort of distinctions consist of, but are not constrained to, our success in recruiting and retaining new consultants, our ability to identify and procure preferred publications, our means to ship the quantity of orders that are acquired with out building backlogs, our potential to acquire satisfactory financing for functioning money and money expenses, financial and competitive ailments, regulatory modifications and other uncertainties, the COVID-19 pandemic, as effectively as those components reviewed in our Once-a-year Report on Kind 10-K for the 12 months ended February 28, 2021, all of which are complicated to forecast. In light of these pitfalls, uncertainties and assumptions, the ahead-looking occasions talked over may perhaps not arise. All ahead-hunting statements attributable to us or persons performing on our behalf are expressly qualified in their entirety by the cautionary statements in this paragraph and in other places in our Yearly Report on Sort 10-K for the yr finished February 28, 2021 and speak only as of the date of this Push Launch. Other than as expected less than the securities guidelines, we do not think a responsibility to update these ahead-on the lookout statements, whether as a outcome of new info, subsequent gatherings or circumstances, modifications in expectations or or else.
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