Regis® Announces Agreement to Franchise the Holiday Hair Brand and Sell an Additional 133 Company-Owned Salons to the Alline Salon Group
Regis Corporation (NYSE: RGS), a leader in the haircare industry, whose primary business is franchising, owning, and operating technology enabled hair salons, announced today they have entered into an agreement for the sale and conversion of an additional 133 company-owned salons located in the state of Pennsylvania and surrounding areas to the Alline Salon Group, formerly known as Super C Group. The salons being acquired are currently branded as Holiday Hair®, Famous Hair®, Best Cuts®, CityLooks®, Style America® and BoRics Hair Care®. One hundred and five of the salons will be under the Holiday Hair® banner and the balance will be converted to the Regis Cost Cutters® brand. The transition and conversion began early December and will continue into early 2020.
“We are pleased to expand our relationship with the Alline Salon Group. Our partnership now covers Michigan, Ohio and Pennsylvania and three brands: Supercuts, Cost Cutters and Holiday Hair. The Alline Salon Group has created an excellent culture and built a team of proven leaders. We are optimistic about our future together,” commented Eric Bakken, Executive Vice President, President - Franchise of Regis Corporation.
Hugh Sawyer, President and Chief Executive Officer of Regis Corporation commented, “Growing with competent multi-unit operators, like the Alline Salon Group, strengthens our franchise portfolio and further accelerates our strategy to convert to a capital-light, technology enabled franchise business.” Mr. Sawyer added, “Regis has a pipeline of 970 salons to be transitioned to franchisees in various stages of negotiation.”