Regis Announces Closing of Sale and Franchise of U.K. Business
October 23, 2017 - (Businesswire) - Regis Corporation (NYSE: RGS), a leader in the haircare industry, whose primary business is owning, operating and franchising hair salons, today announced it has completed the sale and franchise of substantially all of its International segment to The Beautiful Group, an affiliate of Regent, who operates as the Company's largest franchisee.
This transaction includes the Company's approximately 250 Regis Salons and Supercuts salons in the U.K. Regis previously announced the transaction on October 2, 2017, at the same time as announcing that it had sold and franchised substantially all of its mall-based salon business in North America to The Beautiful Group.
About Regis Corporation
Regis Corporation (NYSE:RGS) is a leader in beauty salons and cosmetology education. As of June 30, 2017, the Company owned, franchised or held ownership interests in 9,008 worldwide locations. Regis' corporate and franchised locations operate under concepts such as Supercuts, SmartStyle, MasterCuts, Regis Salons, Sassoon Salon, Cost Cutters, Roosters and First Choice Haircutters. Regis maintains an ownership interest in Empire Education Group in the U.S. For additional information about the Company, including a reconciliation of certain non-GAAP financial information and certain supplemental financial information, please visit the Investor Information section of the corporate website at www.regiscorp.com. To join Regis Corporation's email alert list, click on this link: http://www.b2i.us/irpass.asp?BzID=913&to=ea&Nav=1&S=0&L=1
Regent is a Los Angeles based private equity firm focused on transforming businesses. The firm's strategy is to partner with management teams to create value through operational improvements. Regent's investments span the globe and operate across numerous industry verticals. For more information, please visit www.regent.co.
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VP, Finance and Investor Relations
SOURCE Regis Corporation