Broadway Industries has sold its photographic import and distribution business, H E Perry for up to $1.5 million.
H E Perry's management are the buyers.
Broadway will be paid $1 million and it expects to get another $500,000 from stock and unpaid customer bills in the next half year
The company says the money will be used to reduce debt.
The sale will allow Broadway to focus on its Mercer businesses, which include stainless steel fabrication and equipment making, the manufacture and supply of kitchen, bathroom and laundry products and supply of sterilization and washing equipment.