Sally buys distributor
This article was originally published in The Rose Sheet
Executive Summary
Sally Beauty Holdings acquires Pottsville, Pa.-based Schoeneman Beauty Supply for approximately $61 million through its Beauty Systems Group subsidiary, according to the firm. "We believe Schoeneman is a natural addition to our BSG business and supports our long-term objective to grow the company," says Sally CEO Gary Winterhalter. Schoeneman employs over 500 people and is projected to have revenue of $86 million to $89 million in fiscal 2009 at its 43 professional-only beauty supply stores in Pennsylvania, Southern New Jersey, Northern Delaware and West Virginia. It carries approximately 10,000 SKUs, focusing on mid- to high-end professional beauty products