Acquisition will speed up e-tail ambitions
DSG International has concluded its acquisition of the FotoVista group, following approval from the European competition authorities.

The retailer has taken a controlling 77 per cent stake for Eu261 million (£181.2 million)and expects the deal to be earnings-enhancing in the first year.

Group chief executive John Clare said: 'This acquisition accelerates the group's ambition to be the leading e-tailer of electricals throughout Europe.'

FotoVista owns Pixmania, the market leader for online consumer electronics in France, Spain, Italy and Portugal. Pixmania has a presence in 27 European countries, including all those where DSGi operates.

FotoVista also has 250 stores in France and an online digital photo service.