06.05.2004

Valora and Spector Photo Group have started negotiations with the objective to establish a promising cooperation between their respective organisations in mail order photofinishing (Fotolabo and Maxi Color/Extrafilm). A joint-venture of both organisations yields a significant synergy potential.

The photofinishing market is currently in a consolidation phase. Major synergies occur if both organisations join forces in the mail order segment of this market. There are promising perspectives to the rapidly evolving digital photo-processing with significant potential in marketing, market and product development as well as investments.

The negotiations between both companies intend the creation of a joint-venture on the basis of a "merger amongst equals" (50/50). Valora and Spector Photo Group intend to successfully conclude their negotiations this summer, as stipulated in the Letter of Intent.

The joint-venture would become the undisputed leader in the European mail order segment of the photofinishing market, both in traditional and on-line photofinishing volumes.

• Press Release (pdf, 140.09 KB)