ABC Learning Centres throws its toys [AU]

EXCERPTS

Australian childcare group ABC Learning Centres Ltd has moved to sell its toy distributor business and set up an exclusive-supply agreement with Funtastic Ltd.

ABC Learning has entered into a non-binding agreement with Funtastic for the sale of Judius for $44.6 million, and the establishment of a long-term supply arrangement with the combined Judius and Funtastic.

Under the proposed agreement, ABC will also enter into an ongoing revenue share arrangement with Judius where ABC will receive a percentage of revenues on all sales made to and through ABC childcare centres.

- reprinted The Age