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European firm increases Sally’s presence in new territories.
December 17, 2009
By: TOM BRANNA
Sally Beauty Holdings, Inc. has acquired Sinelco Group NV, a European wholesale distributor of professional beauty products, in a $37 million cash deal.
Sinelco, based in Ronse, Belgium, serves more than 1,500 customers in 35 countries through a product catalog, website and sales offices in Belgium, France and Italy. Approximately 85% of the company’s revenues come from its roster of exclusive-label brands—Sibel, Ultron and Bob Tuo. “The addition of Sinelco, which sources many of its products in Asia, will provide us with the opportunity to sell to distributors of professional products in many countries in which we lack a physical presence,” said Chad Selvidge, vice president of Sally Beauty Holdings.
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