Oakbrook, Illinois-based toyco RC2 Corporation is making a move into the publishing business with the acquisition of the Children’s Publishing Division of privately held Publications International for US$163 million in cash.
CPD is one of the world’s top children’s book publishers, selling more than 10 million books annually. CPD markets hundreds of new titles each year, including electronic books, story books, as well as Story Reader and Poingo toys that are sold at book retailers throughout North America, Europe, Latin America and Asia.
CPD’s net sales for fiscal 2007 totaled US$112.0 million. The acquisition is expected to close next month and is subject to regulatory approvals.