Press release

Cherry Hill Programs Announces Acquisition of Photogenic

Sponsored by Businesswire

Keystone Capital, Inc. (“Keystone”) is pleased to announce today that
its portfolio company, Cherry Hill Programs, has completed the
acquisition of Photogenic, a leading provider of souvenir photography to
premier tourist attractions across the United States. Photogenic is
headquartered in Chicago, IL.

Keystone initially acquired Cherry Hill Programs, the market leader in
providing mall-based holiday photography services and products, in
December 2015. Cherry Hill has been managing on-premises Santa and
Easter Bunny photography programs since 1961. Under Keystone’s
ownership, Cherry Hill’s footprint has grown from 325 to 900+ mall
locations across North America. The company is headquartered in Marlton,
NJ. For more information on Cherry Hill, please visit

Photogenic is a leading provider of souvenir photography services to
premier tourist attractions across the United States. Photogenic offers
a photography solution that integrates seamlessly with its venue
customers’ operations, enhancing the visitor experience and opening a
new revenue stream for the venue. CEO, Steve Craig, began operating at
Photogenic’s flagship location, Chicago’s Navy Pier Centennial Wheel in
2002, and has since expanded the company’s presence to tourist
attractions and boat tour operations across the United States, including
Willis Tower, Entertainment Cruises, The Gateway Arch, The Alamo,
Virginia Aquarium & Marine Science Center, Museum of Science & Industry,
Phoenix Zoo, and Shedd Aquarium. Steve will remain with Photogenic
leading the souvenir photography division. For more information on
Photogenic, please visit

The transaction brings together leaders in both the mall-based holiday
photography and souvenir photography industries. Cherry Hill and
Photogenic have each fostered cultures of operational excellence in
their respective sectors, which leads to a natural alignment of values
and strategic vision. Management looks forward to working
collaboratively to continue delivering a best-in-class customer
experience to both our mall and tourist attraction partners.

“Providing a unique and memorable experience is key to attracting
visitors to mall and tourist attraction locations alike,” said Ed
Warchol, CEO of Cherry Hill. “Steve and Photogenic share our philosophy
that the visitor experience must be world-class, which requires seamless
operations and state-of-the-art imaging technology with caring and
attentive employees. We welcome Steve and the Photogenic team to the
Cherry Hill family.”

“I’m excited about Photogenic’s future as a part of Cherry Hill
Programs,” said Steve Craig, CEO of Photogenic. “In bringing these two
businesses together, we are committed to maintaining the entrepreneurial
spirit and guest-first approach that the company was founded upon, while
tapping into additional resources from Cherry Hill to better serve our
tourist attraction partners and their guests as we continue to expand
our portfolio of venue locations across North America.”

Terms of the transaction are not being disclosed. Legal counsel was
provided to Keystone by Honigman Miller Schwartz and Cohn, LLP in
connection with this transaction.