Educational Development Corporation (NasdaqGM:EDUC) signed an agreement to acquire SmartLab Toys, Inc. from The Quarto Group, Inc. (LSE:QRT) for $0.77 million on October 26, 2022. As of January 6, 2022 Cash used in investing activities was $1.2452 million for capital expenditures, consisting of $0.6582 million associated with the purchase of SmartLab Toys. As of May 17, 2023 $0.77 million associated with the purchase of SmartLab Toys.

SmartLab Toys generated net sales of approximately $6.5 million for the past two years. The transaction is expected to close by November 30, 2022.