Tags : canada, telus
Telus Buys Black’s Photo For $128 Million
Vancouver, British Columbia (AHN) – Telus Corporation bought Black’s Photo Corporation for $28 million. Black’s Photo is Canada’s leading national imaging and digital retail chain. With the acquisition, Telus – one of the largest telecommunication firms in Canada – will have more distribution outlets for its wireless products and services across the nation.
Black’s outlets will immediately start offering Telus products and services in its 113 stores nationwide, particularly in the Ontario area, alongside cameras, photo equipment accessories, albums and printing services the shop sells.
Telus bought the 79-year old Black’s from ReichmannHauer Capital Partners. Black’s Photo president and general manager Ethel Taylor will be retained in her post. Taylor said in a statement, “Black’s looks forward to working with the Telus team to expand our products and expertise to include Telus’ wireless devices across Canada. Black’s and Telus share a customer-focused culture and this relationship will further expand our ability to meet clients’ needs for wireless devices with digital imaging capabilities.”
Telus president and executive vice president Joe Natale said, “Black’s is an impressive Canadian retailer with a great brand, reputation and management team. 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. 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.”
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