CHATTANOOGA (AP) — Longtime Chattanooga photography company Olan Mills has been acquired by Minnesota-based Lifetouch.
Financial details of the purchase were not announced, according to the Chattanooga Times Free Press (http://bit.ly/tKAmSX ).
The companies had been competitors in the church directory and direct sales fields.
Olan Mills was founded in 1932 and Lifetouch, based in Eden Prairie, Minn., was begun in 1936.
Officials said Lifetouch expects to hire nearly all of Olan Mills' 4,000 employees.
Lifetouch has more than 22,000 employees and annual sales of more than $1 billion. The company is employee owned.
Olan Mills II said combining the companies is logical because the businesses fit well and the corporate cultures are similar.