Retail Industry
Industry: Email Alert RSS FeedRitz Camera completed its purchase of Wolf Camera for $84.7 million - deal also reunites family - Brief Article
DSN Retailing Today, Nov 19, 2001
Ritz Camera completed its purchase of Wolf Camera for $84.7 million. When Wolf filed for bankruptcy protection last June, it listed assets of more than $100 million. The deal merges the 1,000-store Ritz chain with Wolf's 420 units, and the deal also reunites family. In 1974, Chuck Wolf left his uncle's business to found Wolf Camera.
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Today, as the companies merge, he will join his cousin David Ritz and serve as vice chairman responsible for the company's retail sales.
COPYRIGHT 2001 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2001 Gale Group
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