L'Oreal USA acquisition
This article was originally published in The Rose Sheet
Executive Summary
French cosmetic giant's U.S. business announces acquisition of distributor C.B. Sullivan Company under its SalonCentric professional salon products division. The New Hampshire-based distributor of professional beauty products comprises 31 professional stores, 29 professional sales consultants and a workforce of 270 employees, with net sales of about $50 mil., L'Oreal USA says June 1. "This acquisition is another strategic step in developing a rapidly growing distribution portfolio throughout the U.S.," says Paul Sharnsky, president of SalonCentric. The distributor's "established territories in the Northeast complement our existing coverage in other parts of the country," he adds. L'Oreal USA announced plans to increase its presence in the professional distribution channel three years ago, and last year launched its SalonCentric division to bring new value to hair dressers and better service to salon customers (1"The Rose Sheet" Feb. 16, 2009, In Brief)
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