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December 5, 2006
By: TOM BRANNA
● Alberto-Culver Co. shareholders approved the spin-off of its Sally Beauty operation as a separate publicly-traded company on Nov. 10. The new Alberto-Culver will operate the company’s consumer products business, and Sally Beauty Holdings Inc. will operate the Sally/BSG distribution business. Sally Beauty is one of the largest beauty supply distributors in the world, selling hair and skin care goods, cosmetics, and styling aids through direct sales and in stores in the U.S., Canada, Germany, Japan, and Britain. Shareholders also will receive a $25 per share special cash dividend.
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