Breaking News

Alberto Culver

February 14, 2006

Alberto-Culver Company, Melrose Park, IL, announced its plans to combine its Sally Beauty stores and Beauty Systems Group with Minneapolis-based Regis, which operates almost 11,000 beauty salons. Shareholders of Alberto-Culver will own a majority of the new company under the Regis name, as well as receive 0.6 Regis shares for each Alberto-Culver share. In addition to their new Regis shares, Alberto Culver shareholders will collect a one-time dividend of $3 a share. The dividend will be funded through $400 million of debt that will be transferred to Regis when the deal closes. The companies said that the deal will allow Alberto-Culver to focus more on its well-known consumer brand and enable Regis to sell beauty products carried in Sally stores to salon patrons. Once the agreement is complete, the combined firm’s board will comprise four representatives of Regis, four of Alberto Culver and two independent directors. Regis chief executive officer Paul Finkelstein will remain its chief executive officer. Howard Bernick will resign as president and chief executive officer of Alberto-Culver and become non-executive chairman of Regis, while Sally Beauty president Gary Winterhalter will assume that post at Regis.
blog comments powered by Disqus
  • What's Next for the UK?

    Sarah Boumphrey, Euromonitor International||June 24, 2016
    Euromonitor weighs in on the implications for consumer product companies.

  • Henkel Grabs the Sun

    Henkel Grabs the Sun

    Ian Bell, Euromonitor International||June 24, 2016
    Euromonitor's Ian Bell on the impact the purchase will have on the US detergent industry.

  • To The Max

    To The Max

    Melissa Meisel, Associate Editor||June 20, 2016
    Velvet 59 is on the rise at locations like Ricky’s NYC.

  • Take Notice

    Take Notice

    Melissa Meisel , Associate Editor||June 1, 2016
    Packaging trends revolve around trendy artwork, eco-conscious materials—and portability is a plus too!

  • Virtual Reality

    Virtual Reality

    Christine Esposito, Associate Editor||June 1, 2016
    An update on nature-identical ingredients for cosmetics and personal care products.

  • Shiseido Advances in the US

    Shiseido Advances in the US

    Tom Branna, Editorial Director||June 1, 2016
    New facility in Windsor, NJ demonstrates its dedication to the US and other markets outside Japan.