In 1988, a group of investors comprising Andrew McNally IV (former president of
Rand McNally), Illinois businessman Rhett Butler, attorney Paul Hegness and California businessman and former
Price Waterhouse CPA Ross Sarracino purchased the Walter Foster Publishing Company. With Sarracino at the helm, the company began developing instructional drawing and painting books for children. The popularity of these children’s books eventually led to licensing agreements with
The Walt Disney Company,
Nickelodeon,
Hasbro,
Marvel Entertainment,
DC Comics and
Warner Bros. Walter Foster Publishing's Walt Disney books and activity kits have sold more than 4,500,000 copies since 1991. In 1996, Quarto Publishing, under direction of CEO Laurence Orbach, acquired Walter Foster Publishing, leaving Sarracino at the helm as President and CEO. In addition to growing its publishing and custom packaging (creating books and kits for
Baker & Taylor,
Barnes & Noble,
Chronicle Books,
Disney Press,
Michaels,
Scholastic,
TJ Maxx and
Target) business, Foster teamed with
MEDL Mobile to create the Learn to Draw Digital Sketchbook
app for the
iPad. Since the app became available in December 2010, it has been downloaded over 200,000 times. ==References==