Photo booth owner and operator Photo-Me International (PHTM) has snapped up supermarket chain Asda's photo division.
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The deal had been mooted earlier this year while Asda considered bids, but now a transaction between the two companies will go ahead on 31 October. The supermarket's 191 photo centres and 172 self-service kiosks will now be run under a 10-year concession and its employees will transfer to Photo-Me. It will also run the online service for at least a two-and-a-half-year period. The total consideration to be paid is currently estimated at £5.35m and is capped at a maximum of £6m.
