Asda on a cost-cutting mission
Embattled supermarket chain Asda is selling its photo chain to Photo-Me International for £5.4m in cash as the business is loss-making.
Photo-Me will snap up 191 Asda in-store photo centres and 172 self-service kiosks and also take over the supermarket’s online photo-processing service.
Asda’s photo chain workers will be employed by Photo-Me after the deal is sealed in October.
Serge Crasnianski, Photo-Me’s chief executive, said: “This is an interesting opportunity to significantly expand our UK business in a strong set of locations and increase our market share in the digital photo printing market, which we believe has growth potential in the digital age.”
Photo-Me, the world’s larget photobooth operator, trades in 17 countries and has 6,600 photobooths in the UK.