Photo-Me International In Talks To Buy Asda Photo Product Division

Wed, 27th Apr 2016 07:40

LONDON (Alliance News) - Photobooth and self-service laundry machine operator Photo-Me International PLC on Wednesday said it is holding talks to acquire the UK Photo Product unit of retailer Asda Stores Ltd.

Photo-Me said it is in talks to buy the assets with the view to operating the business via Asda stores. Asda is a UK grocer owned by US giant Wal-Mart Stores Inc.

Photo-Me said there is no certainty that an agreement will be made.

Shares in Photo-Me were up 1.2% to 163.9 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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