Telus buys out Black's Photo for $28 million

Discussion in 'Retail' started by bAuHaUs, Sep 8, 2009.

  1. bAuHaUs

    bAuHaUs Active Member

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    Telus buys out Black's Photo for $28 million
    Updated Tue. Sep. 8 2009 11:04 AM ET

    The Canadian Press

    VANCOUVER -- Telus Corp. said Tuesday it has acquired Black's Photo Corp. for $28 million.

    Once the acquisition is completed, Black's stores will begin selling Telus wireless products and services at 113 locations across the country, with particular strength in Ontario.

    "Black's premium locations provide an established network across Canada for the distribution of Telus' wireless products, which nicely complements our extensive network of dealers and stores," stated Joe Natale, president of Telus Consumer Solutions.

    "In anticipation of our clients' evolving needs and as more wireless devices have imbedded high-quality photo and video capability, there is a natural link between Telus and Black's."

    Telus acquired Black's, a photography processor and retailer, from the privately owned ReichmannHauer Capital Partners.

    Telus is Canada's second largest telecommunications service provider.

    Shares in the company gained two cents to $34.45 in early trading on the Toronto Stock Exchange.
     
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  2. adma

    adma Superstar

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    Now, there's an emblem of technological change.
     
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