BUSINESS

Transcontinental expands educational publishing business with Modulo acquisition

01/31/2013 04:12 EST | Updated 04/02/2013 05:12 EDT
MONTREAL - Transcontinental Inc. (TCL.A) has expanded its educational publishing business with the acquisition of Groupe Modulo, a producer of French-language resources used in schools across Canada.

No price for the transaction was disclosed.

The Montreal-based company said Thursday that the subsidiary of Nelson Education will operate as a separate entity in Transcontinental Media's books and education division. The segment includes Cheneliere Education, the leading publisher of French-language educational resources in Canada.

Groupe Modulo serves schools from kindergarten to university in the French and French-immersion markets across Canada with learning materials for students and professional development resources for educators.

The addition of its 3,000 titles will raise Transcontinental's offering to more than 11,000, said Jacques Rochefort, senior vice-president, books.

"The group's strength will allow us to continue developing our already highly diversified print and digital offering in order to better face future challenges in the publishing industry."

The head of Nelson Education, Greg Nordal, said Groupe Modulo "will gain further advantage by growing within TC Media."

Transcontinental Media is a division of Transcontinental Inc., Canada's largest printer and fourth-largest in North America. It publishes consumer magazines and community newspapers in Quebec and the Atlantic provinces, and French-language educational resources.

On the Toronto Stock Exchange, Transcontinental Inc. shares closed up 24 cents at $11.61 on Thursday.