Black's retail locations across Canada to expand TELUS' wireless
VANCOUVER, Sept. 8 /CNW/ - TELUS Corporation (TSX: T, T.A; NYSE: TU)
today announced it has acquired Black's Photo Corporation ("Black's"),
Canada's premier national imaging and digital retailer. This acquisition
delivers on TELUS' imperative to further advance its wireless and data
strategy by expanding the distribution of TELUS' wireless products and
services across Canada.
Following the acquisition, Black's stores will add TELUS wireless
products and services in 113 premium locations nationally with a particular
strength in the Ontario marketplace.
"Black's is an impressive Canadian retailer with a great brand,
reputation and management team," said Joe Natale, executive-vice president and
president, TELUS Consumer Solutions. "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."
"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," said Ethel Taylor, who will continue to lead
Black's in her capacity as President and General Manager.
TELUS will continue to deliver a great client experience by expanding
wireless device distribution through Black's existing stores and using Black's
in-store expertise to meet clients' wireless and digital imaging needs.
This acquisition will build upon Black's nearly 80 year old strong
national brand and reputation based on excellent customer service and highly
qualified, professional staff.
TELUS has acquired Black's from privately owned ReichmannHauer Capital
Partners. The value of the transaction is approximately $28 million.
About Black's Photo Corporation
Established in the 1930's, Black's is Canada's premier destination for
imaging and digital products and services. Black's has a network of 113 stores
across Canada, a large base of loyal customers, and one of the top retail
brands in the country. Over its proud 79 year history, Black's has earned a
reputation for premium printing services and for being a top destination for
purchasing: digital camera equipment, services, supplies and accessories;
media; frames and albums; and Memorables - Personalized PhotoGifts. For more
information about Black's, please visit www.blackphoto.com.
TELUS (TSX: T, T.A; NYSE: TU) is a leading national telecommunications
company in Canada, with $9.7 billion of annual revenue and 11.8 million
customer connections including 6.3 million wireless subscribers, 4.1 million
wireline network access lines, 1.2 million Internet subscribers and more than
100,000 TELUS TV customers. Led since 2000 by President and CEO, Darren
Entwistle, TELUS provides a wide range of communications products and services
including data, Internet protocol (IP), voice, entertainment and video. In
support of our philosophy to give where we live, TELUS, our team members and
retirees have contributed $137 million to charitable and not-for-profit
organizations and volunteered more than 2.6 million hours of service to local
communities since 2000. Nine TELUS Community Boards across Canada lead our
local philanthropic initiatives. For more information about TELUS, please
Forward looking statements
This news release contains forward looking statements. Forward looking
statements are not based on historical facts, but rather on current
expectations, TELUS assumptions and projections about future events, and are
therefore subject to risks and uncertainties which could cause actual results
to differ materially from the future results expressed or implied by the
forward looking statements. Such statements are qualified in their entirety by
the inherent risks and uncertainties surrounding future expectations. Company
assumptions and risk factors are listed from time to time in TELUS' reports,
public disclosure documents including Management's discussion and analysis,
Annual Information Form, and in other filings with securities regulatory
authorities in Canada and the United States.
For further information:
For further information: TELUS Media Relations, Jim Johannsson, (780)
493-6197, email@example.com; TELUS Investor Relations, Robert Mitchell,
(416) 279-3219; Darrell Rae, (604) 697-8192, firstname.lastname@example.org