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October 3, 2007
By: TOM BRANNA
Empire Beauty Schools has completed the merger of its accredited cosmetology schools with the accredited cosmetology schools of Regis Corporation, the global leader in the $150 billion hair care industry, to form Empire Education Group. The new company is the largest beauty school operator in North America. As a result of this transaction, Empire Beauty Schools owns 51% majority interest in the newly formed EEG, Inc., with Franklin K. Schoeneman, chairman and CEO, remaining the primary stockholder, and Regis owns a 49% minority interest. The transaction closed Aug. 1.
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