THE DEAL: Regis Increases Provalliance Stake

Date: 02-Feb-2011

By Demitri Diakantonis

Regis Corp., operator of the Supercuts hair salon chain, announced late Tuesday, Feb. 1, that it acquired an additional 17% stake in European counterpart Provalliance SAS for $56 million. Regis now owns a 46% stake in the operator of Jean Louis David, Franck Provost and Saint Algue hair salons. The transaction is expected to close by June 30. Regis said the investment will give it more opportunities for international growth. The target has about $275 million in annual revenue. Regis completed a four-month strategic review process in December that was run by Peter J. Solomon Co., deciding instead to stay independent.

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