Asda has sold its photo division, which had sales of c£19.3 million in 2015, to Photo-Me. The transaction is expected to complete in October and will see Photo-Me manage the 191 photo centres and 172 self-service kiosks operated on Asda sites under a ten year concession arrangement with employees transferring to Photo-Me. The buyer will also manage Asda’s own brand online photo processing service for a minimum of 30 months and sees the deal as an opportunity to expand its presence in high footfall locations. The purchase price was agreed at £3.35 million plus inventory plus a commission payment based on sales as well as business rate and utility charges.
Share