Calumet And Leeds Complete UK Merger Deal
Calumet And Leeds Complete UK Merger Deal London: September 8 Leading imaging retailers Calumet UK and Leeds Photovisual have merged in a multi-million pound deal aimed at creating long-term stability for staff and customers. The £45 million turnover business, headed by MD Andy Morris, will trade as Calumet UK and will serve professional and advanced amateur photographers across 13 retail sites in a new-look multi-channel (retail, call centre and Internet) organization. Under the terms of the merger Calumet UK has acquired the asset bases of Leeds Photovisual, H.A.West and Herts-based specialist photographic supplier, Mid-Counties. Announcing the deal completion Andy Morris said: "This is a great day not just for Calumet and Leeds but for the imaging industry as a whole. We will be focusing on a new-look business which will bring both highly competitive prices and outstanding added value to our customers across the UK." He added: "Unfortunately some job losses will be inevitable as we restructure but there will also be job gains at our Milton Keynes headquarters. As part of the restructuring plan the former Leeds branch at Newport will close and the business moved to Calumet Bristol. H.A West in Edinburgh will move into the Scottish capital's Calumet store and in the longer term Calumet Manchester will merge into Leeds branches. In London the former Leeds Brunswick Centre has been subsumed by Calumet in Drummond Street." -2- The company, which has announced major refit plans for both Drummond Street and at the former Leeds Manchester branch, is also investing over £100,000 in intensive staff training courses. Added Mr. Morris: "Training is key to our future success. We intend to become a 'One-Stop-Shop' business where customers can acquire complete solutions. We are not going to sell customers a box and then walk away from it. I see Calumet UK as the PC World of the photographic industry in terms of product range, accessibility and dynamic marketing." Ends Further information: www.calumetmerger.co.uk Or Trevor Lansdown: 01206 241575 Or Tony Hickman: tony@tonyhickman.co.uk ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/09/10/20030910BIT00500/wkr0001.doc http://www.waymaker.net/bitonline/2003/09/10/20030910BIT00500/wkr0002.pdf