12.21.01
The Alberto-Culver Company's Beauty Systems Group today announced the closing of the acquisition of Austin, Texas-based Armstrong-McCall, a full-service beauty products distributor and franchisor. Armstrong-McCall, a major Matrix distributor, will be operated as a part of Beauty Systems Group and it is expected to add approximately $100 million in annual sales. Terms of the acquisition have not been disclosed.
Armstrong-McCall's franchising network will extend Beauty Systems Group's operations into Texas, Louisiana, New Mexico, Arizona, Mississippi, Georgia, Alabama and parts of Florida, Nevada and Southern California as well as into Mexico. Beauty Systems Group currently has operations in the east, southeast and midwest United States and Canada.
Howard B. Bernick, president and chief executive officer of Alberto-Culver Company reaffirmed that the addition of Armstrong-McCall should add about $75 million in sales in the last three quarters of the 2002 fiscal year and be "slightly accretive" to earnings per share beginning in the March quarter.
Alberto-Culver Company's Sally Beauty Company is the world's No. 1 marketer of professional beauty care products through its chain of more than 2000 domestic and international Sally stores. The Beauty Systems Group network sells exclusive professional beauty care brands such as Matrix, Redken, L'Oreal, Paul Mitchell, Wella, Graham Webb and Sebastian to salon owners and salon professionals.
Alberto-Culver Company also manufactures, distributes and markets leading personal care products including Alberto VO5, St. Ives and TRESemme in the United States and internationally in more than 120 countries around the world.
Armstrong-McCall's franchising network will extend Beauty Systems Group's operations into Texas, Louisiana, New Mexico, Arizona, Mississippi, Georgia, Alabama and parts of Florida, Nevada and Southern California as well as into Mexico. Beauty Systems Group currently has operations in the east, southeast and midwest United States and Canada.
Howard B. Bernick, president and chief executive officer of Alberto-Culver Company reaffirmed that the addition of Armstrong-McCall should add about $75 million in sales in the last three quarters of the 2002 fiscal year and be "slightly accretive" to earnings per share beginning in the March quarter.
Alberto-Culver Company's Sally Beauty Company is the world's No. 1 marketer of professional beauty care products through its chain of more than 2000 domestic and international Sally stores. The Beauty Systems Group network sells exclusive professional beauty care brands such as Matrix, Redken, L'Oreal, Paul Mitchell, Wella, Graham Webb and Sebastian to salon owners and salon professionals.
Alberto-Culver Company also manufactures, distributes and markets leading personal care products including Alberto VO5, St. Ives and TRESemme in the United States and internationally in more than 120 countries around the world.