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Empire and Regis Merge For Cosmetology Education

October 3, 2007

Empire Beauty Schools has completed the merger of its accredited cosmetology schools with the accredited cosmetology schools of Regis Corporation, the global leader in the $150 billion hair care industry, to form Empire Education Group.

The new company is the largest beauty school operator in North America. As a result of this transaction, Empire Beauty Schools owns 51% majority interest in the newly formed EEG, Inc., with Franklin K. Schoeneman, chairman and CEO, remaining the primary stockholder, and Regis owns a 49% minority interest. The transaction closed Aug. 1.
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