Photographic retailer Wex Photographic is set to be merged with rival Calumet, following its sale to an investment company
AURELIUS has bought the specialist retailer from Barclays, for an undisclosed sum. It already owns Calumet Photographic and Bowens Lighting, having acquired their holding company, Calumet International, last year.
Between them, Wex Photographic and Calumet Photographic have combined revenues of EUR 175 million. AURELIUS has stated that the merger will offer significant synergies and will “create a leading omni-channel offering servicing the enthusiast and professional photographer market across the UK and Europe.”
David Garratt, CEO Wex Photographic said: “The Wex team is very excited to be working alongside both AURELIUS and the Calumet team to develop and expand our existing strategy for the business. The combined business will be able to offer customers a genuine multi-channel experience and, by leveraging Calumet’s in-store expertise, significantly expand our leading online offering to a wider customer base in the UK.”
Wex Photographic, which recently acquired repair and rental specialist Fixation, is currently the UK’s largest online specialist photography retailer, with over 17,000 products available on its website and a 4,300sq. ft showroom based in Norwich.
Calumet Photographic, meanwhile, operates 17 stores across Europe, including eight in the UK. Founded in 1939 as Calumet Manufacturing Co., the company started out by selling sporting goods before focusing on photography. In addition to its retail division, the company also specialises in equipment rental and video, and boasts a range of own-brand products.