Article: School Specialty profit declines

By DORIS HAJEWSKI

School Specialty Inc., the Greenville-based educational products company, reported a nearly 15% drop in quarterly earnings Thursday and announced two business transactions.

The company has acquired AutoSkill International Inc., an educational technology company in Ottawa, Canada, for $11.7 million.

School Specialty also agreed to sell its retail trade book business to Carson-Dellosa Publishing, a newly formed business. According to the agreement, School Specialty will combine its publishing unit assets with Cookie Jar Education Inc. and will take a 35% stake in Carson-Dellosa.

Financial terms were not disclosed. The sale is expected to close in the current quarter.

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