Source: Global Newswire.
New York / Clichy, 2 May 2017 – L’Oréal USA, the largest subsidiary of L’Oréal, the world’s leading beauty company, today announced that SalonCentric has agreed to acquire key assets from Four Star Salon Services, a full-service wholesale distributor headquartered in Hauppauge, New York. This acquisition will provide SalonCentric, L’Oréal USA’s professional salon distribution operation, with expanded distribution coverage of salon professional products within New York, New Jersey and Connecticut.
The acquisition will align Four Stars’ field sales and stores with SalonCentric’s field sales and store network. In total, 11 stores and various field positions that service approximately 3,500 salons will be included in the transaction.
“This acquisition will enable us to further expand SalonCentric and the brands we carry into a key market,” said Bertrand Fontaine, President of SalonCentric. “We will increase our footprint in the Northeast, while sharing the SalonCentric experience – including quality education, extensive in-salon support and an elevated customer experience in SalonCentric stores – with a new community of beauty professionals.”
The closing is subject to customary conditions.
SalonCentric, headquartered in St. Petersburg, Fla., was created as a distributor of salon professional products by L’Oréal USA in 2008. SalonCentric currently operates in 48 states, and includes 636 sales consultants 565 SalonCentric stores and 261 State-RDA stores. Brands carried by SalonCentric include L’Oréal Professionnel, Matrix, Mizani, Moroccanoil, Olaplex, Pravana, Pulp Riot, Pureology, Redken 5th Avenue, Sam Villa, Sexy Hair, Surface Hair, L’ANZA and many others.
L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 34 diverse and complementary brands, the Group generated sales amounting to 25.8 billion euros in 2016 and employs 89,300 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.
Research and innovation, and a dedicated research team of 3,870 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal’s sustainability commitment for 2020 “Sharing Beauty With All” sets out ambitious sustainable development objectives across the Group’s value chain. www.loreal.com
“This news release does not constitute an offer to sell, or a solicitation of an offer to buy L’Oréal shares. If you wish to obtain more comprehensive information about L’Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com.
This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements.”
Contacts at L’Oréal (switchboard: +33 1 47 56 70 00)
Individual shareholders and market authorities
Mr Jean Régis CAROF
Tel: +33 1 47 56 83 02
Financial analysts and Institutional investors
Mrs Françoise LAUVIN
Tel: +33 1 47 56 86 82
Mrs Polina HUARD
Tel: +33 1 47 56 87 88
For more information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, the Internet site for shareholders and investors – www.loreal-finance.com – or the L’Oréal Finance app, alternatively, call +33 1 40 14 80 50.