Nationwide Photo Chain To Be Bought By Equity Firm

  • 6/11/2019 3:40:41 PM
  • Jesse Smith
  • Local News

GALION, OH - The Galion branch of a nationwide portrait photography chain will be under new corporate management once again for the second time in two years. Private equity firm Apollo Global Management is looking to close several deals to purchase two photography and printing businesses, Shutterfly and Snapfish.

Shutterfly, which has a location at Lifetouch Church Directories in Galion, is known primarily for its photo books and personalized products. The company will be acquired for a combined $2.7 billion ($1.7 billion for the initial purchase, while Apollo assumes another $900 million in debt from Shutterfly), while digital photo storage company Snapfish will be bought for $300 million. They are expected to merge following their acquisition in the fourth quarter of 2019.

In 2018, Shutterfly purchased Lifetouch Church Directories and its related business ventures for $825 million, combining photography services and printing services under one banner. The subsequent acquisition of Shutterfly and Snapfish by Apollo will seek to further consolidate these services.

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