Learning Resources Buys Another Toy Company
Kukec, Anna Marie, Daily Herald (Arlington Heights, IL)
Byline: Anna Marie Kukec Daily Herald Business Writer
Vernon Hills-based Learning Resources Inc., a global manufacturer of educational materials and toys, Tuesday said it purchased another company - its second in four months - for about $25.2 million in an all stock deal.
Learning Resources bought publicly held Educational Insights Inc., a designer, developer and marketer of educational products for children regarding geography, math, reading and science.
Educational Insights will retain its headquarters in Rancho Dominguez, Calif., and will become a business unit of Learning Resources.
"We're very similar companies and we understand each other, our products and our customers, for many years," said Learning Resources Chief Executive Officer Richard Woldenberg.
Woldenberg said he is open to buying other educational toy companies in the future.
Learning Resources has been steadily growing since it was founded in 1984 by Woldenberg's mother, Jane, in Highland Park. It has more than 1,000 products for youngsters, including Pretend & Play, Gears! Gears! Gears! and Reading Rods. In 1994, the company opened an office in King's Lynn, England, about 60 miles north of London, and now sells products in 80 countries. …