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December 12, 2001
By: TOM BRANNA
Alberto-Culver Co., a marketer and retailer of personal care products, said today it would acquire Armstrong-McCall, a beauty products distributor, in order to extend the geographic reach of its professional products distribution unit. Armstrong-McCall, a major distributor of Matrix brand products, has operations across a large portion of the southern United States and Mexico. Its annual sales are about $100 million.Alberto-Culver said the deal was expected to add about $75 million in sales in the last three quarters of fiscal 2002 and be “slightly accretive” to quarterly earnings per share.The company also said its sales and earnings for the first quarter were on track with projections.
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