Follett Corporation, an education and entertainment distributor for more than 140 years, continues to expand. On November 17, 2016, Follett announced that it had acquired Valore Inc. and the Valore Books marketplace solution for students and bookstores.
Follett Inc. is known for its educational resources for preK-12 students as well as material for higher education. It operates 1,250 campus stores across the U.S. as well as 1,600 virtual stores. That’s a lot. Follett’s purchase of Valore Inc. doesn’t merely increase the size of the company; it also expands the company’s capabilities.
Paired with Follett’s purchase of Woody’s Books and the BookVolume tool earlier in the year, Valore Inc. will enable campus stores to buy a large volume of books at or below wholesale price. In turn, campus stores can save students money. That sure is a plus. The Valore Books marketplace gives stores an option to liquidate excess inventory at market rates as well as expand their customer market.
Follett Inc.’s purchase integrates its campus stores with Valore’s well-established online marketplace. The strategic purchase seems to be in response to the downward trend in buying and selling textbooks from campus bookstores as students hunt for deals online instead. Can the acquisition of Valore Inc. halt the decline in campus bookstores sales and possibly improve them? We’ll find out in due time.