Dixons buys out remaining shares in PIXmania
Electrical retailer Dixons has announced that it has purchased a further 22% of PIXmania, the digital photography and electronic e-tailer, from its founders Steve and Jean-Emile Rosenblum for £8m.
The deal adds to Dixons existing 77% stake in the business, which acts as e-Merchant platform for Dixons’ multi-channel operations, allowing the Group to take full day-to-day control of the business.
Dixons CEO Sebastian James, said: "I am pleased that we have been able to acquire substantially the remainder of the PIXmania business. PIXmania is the heart of our very successful UK multi-channel business and this will ensure the stability and flexibility to continue to improve the experience for the customers of that business.
“PIXmania's own trading business continues to face strong market headwinds and this move will also allow us to manage the company in line with the Group's wider strategy and take the decisive actions necessary to improve its performance."