Sally Beauty asserts independence
This article was originally published in The Rose Sheet
Executive Summary
Firm's $59 mil. acquisition of Chapelton 21 Limited - a privately held, Scotland-based company that conducts business primary through subsidiary "Salon Services" - includes over 80 stores in the UK, Ireland, Germany and Spain and over 9,000 products, according to Feb. 12 release announcing the deal's closure. Salon Services booked sales of approximately $105.5 mil. for fiscal year 2006 (ended Sept. 30). This was Sally Beauty Holdings' "first major acquisition as an independent public company" since its separation from Alberto-Culver in November, President and CEO Gary Winterhalter notes (1"The Rose Sheet" Nov. 27, 2006, In Brief)...
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Sally Beauty on its own
Alberto-Culver's separation of its consumer products business and its distribution business for professional beauty supplies is complete, resulting in two separate, publicly traded entities, firm announces in Nov. 16 release. Newly independent Sally Beauty Holdings - consisting of specialty retailer Sally Beauty Supply and distributor Beauty Systems Group that provide professional beauty products to retail consumers and salons - will be headed by Gary Winterhalter as president and CEO. The separation was approved by Alberto-Culver shareholders Nov. 10 after a merger agreement with Regis Corporation fell through in April (1"The Rose Sheet" Nov. 13, 2006, p. 7). Going forward, Sally Beauty is "seeing a large and addressable market, stable and consistent industry growth, favorable underlying demographic trends, a highly fragmented customer base and a limited number of sizeable direct competitors," Winterhalter says...
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