Business briefs: Private equity firm eye Getty sale | Scotmid appoint Stephen Brown | International Greetings

PRIVATE equity firm Hellman & Friedman (H&F), which sealed the £1.1 billion takeover on Tuesday of Edinburgh-based commodities research firm Wood Mackenzie, is pushing ahead with the $4bn (£2.6bn) sale of Getty Images, the world’s largest photograph supplier, sources claimed.

While several firms have balked at H&F’s $4bn asking price, sources said other groups, including KKR and TPG Capital, are still in the process, which is now in its second round.

Reports yesterday claimed H&F may float WoodMac in the United States within six years.

Brown takes key role at Scotmid

Stephen Brown, the former development and distribution director at Kinross-based grocery chain David Sands, which was taken over by the Co-operative in January, will lead the development of local market and supplier sourcing initiatives at rival Scotmid.

Scotmid said Brown will help “ensure that the business builds the relationships with local suppliers whilst seeking out new opportunities to support local Scottish food producers”.

Brown said the initiative will see it search for further local suppliers and will “give us something different”.

It’s a cracker for royal supplier

The official supplier of Christmas crackers to the Queen has reported a jump in full-year profits driven by a surge in greeting cards sales in the UK.

International Greetings, which also sells cards and stationery, saw underlying pre-tax profits increase by 37 per cent to £7.1 million.

Its UK division, combined with its Asian markets, make up 53 per cent of group revenue, which increased 2 per cent to £220.8m in the year to 31 March.

The strong results come after the demise of Clinton Cards, which fell into administration in May, leading to the closure of about half of its stores.