Photo-Me snaps up Asda's photo business

Wed, 24 Aug 2016 | DIVISION SALE

Photo-Me International, the instant photo equipment group, is the new owner of Asda's loss-making photo division in Britain.

Asda will get £5.4 million in cash for the sale of its 191 in-store photo centres and 172 self-service kiosks, and also run the associated online photo processing service. It will receive £3.35 million for the business and about £2 million for stock.

The plan is for Photo-Me to run the sites as concessions in the stores for ten years and pay commission to the supermarket chain. When the deal concludes in October, existing staff will be working for Photo-Me.

The sale is part of Asda's efforts to slough off surplus services to address the dropping sales at its core grocery business, affected by pressures of heightening competition from Aldi, Lidl and Tesco.

Asda's photo processing business, which had already been lined up for disposal, suffered £3.4 million in losses on revenue of £19.3 million last year. Its in-store pizza-making may also be sold off.

An international business, Photo-Me has a presence in 17 countries and has 6,600 photobooths and digital printing kiosks in the UK. Its underlying profits increased by 15 per cent to £40.1 million in 2015, boosted by demand for photos on identity cards in Japan.

It will look to drive sales for its newly acquired business by bringing in improved equipment, new products, and re-styling layouts.

Find a business for sale


Share this article



Latest Businesses for Sale

Consulting Engineers Focused on the Built Environment
London, UK

Unusual opportunity to acquire this national and well established, full service Mechanical & Electrical consulting engineering company. Offers invited.

Asking Price: £2,700,000
Turnover: £5,800,000

LEASEHOLD


Freight Brokerage Services
UK Wide

Works with a network of reliable hauliers to provide comprehensive and reliable logistics solutions on a national basis. Offers invited.

Asking Price: Offers Invited
Turnover: £420,000

RELOCATABLE


Food Manufacturer Specialising Flatbread Products
North of England, UK Wide

Has established a prominent position with clients in its industry due to its prestigious portfolio. Operates from two leasehold premises. Offers invited.

Asking Price: Offers Invited
Turnover: £671,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
23
 
May
 

Fintech company Loot collapses into administration | ADMINISTRATION

After failing to secure further backing from the Royal Bank ...

 
22
 
May
 

Spike in M&A activity in the education sector | BUSINESS SALE

In recent months, the education sector in the UK has witness...

 
22
 
May
 

Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION

Celebrity chef Jamie Oliver, who shot to fame after campaign...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
02
 
Jan
 

IoW football ground could be sold to Asda | BUSINESS SALE

The owners of Isle of Wight football club, Newport FC, are h...

 
28
 
Apr
 

Allan Leighton could sell Peacocks fashion retailer | BUSINESS SALE

Allan Leighton, former CEO of Asda and former non-executive ...

 
04
 
Aug
 

Asda to dispose of 30 Netto stores | DIVISION SALE

Asda has put 30 of its recently acquired Netto stores on the...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources