SOURCE: L'Oreal USA
June 02, 2010 11:28 ET
L'Oréal USA's SalonCentric Acquires C.B. Sullivan Company
Expands Distribution Network Coverage to New England
NEW YORK, NY--(Marketwire - June 2, 2010) - L'Oréal USA's SalonCentric Division, the company's professional salon products distribution network, today announced the acquisition of C.B. Sullivan Company, a New Hampshire-based distributor. C.B. Sullivan's net sales for fiscal year 2009 were approximately $50 million.
C.B. Sullivan Company was founded in Manchester, New Hampshire in 1947. C.B. Sullivan, son of the founder, bought the business in 1980 and converted it to a professional salon distribution company with the addition of L'Oréal's Matrix brand. As a multi-line distributor servicing territories in Vermont, New Hampshire, Maine, Connecticut, Rhode Island and Massachusetts, the acquisition furthers L'Oréal USA's mission to gain closer proximity to the salon community while continuing to provide them with the best products, service, training and education.
"We are very pleased to welcome the C.B. Sullivan organization to SalonCentric," said Paul Sharnsky, President of SalonCentric. "This acquisition is another strategic step in developing a rapidly-growing distribution portfolio throughout the US. C.B. Sullivan Company's established territories in the Northeast complement our existing coverage in other parts of the country. This acquisition is a natural fit for both of us."
With a workforce totaling approximately 270 employees, C.B. Sullivan Company has 29 professional sales consultants and 31 professional stores. "I've spent my life in the professional salon business and it's important that I entrust this business to a company that shares my values for and dedication to the salon community," said C.B. Sullivan, President. "L'Oréal shares my deep commitment to salons. This acquisition by L'Oréal is a very logical and exciting next step for C.B. Sullivan."
L'Oréal announced its plans to take a greater interest in the professional products distribution process in the US three years ago in order to create efficiencies that were beneficial to all stakeholders. Since that time, the company made a number of strategic acquisitions including: Beauty Alliance headquartered in Clearwater, FL; Maly's West in Valencia, CA; Columbia Beauty Supply in Charlotte, NC; Idaho Beauty & Barber in Boise, ID; Marshall Salon Services in Dixon, IL; and Maly's Midwest in Grand Rapids, MI.
SalonCentric, headquartered in Clearwater, Florida, is the professional products distribution operation of L'Oréal USA. It was created in 2008 following a series of acquisitions that provided a strong store organization and distributor sales consultant network. SalonCentric is the premier distribution partner to the professional salon community in the US, fully committed to fighting diversion and protecting legitimate channels of distribution. Focused on a multi-line, multi-channel business approach with professional salon brands, including partner brands, and through hundreds of store locations and field sales activities, SalonCentric connects stylists to the finest brands, education and business solutions to ensure their overall success. SalonCentric has over 3,300 employees and services salon professionals through its network of over 1,150 distributor sales consultants and 700 stores. A multi-branded organization, SalonCentric distributes, among others, the following: TIGI, Sexy Hair, Kenra, Farouk, Framesi, L'Oréal Professionnel, Matrix, Mizani, OPI, Pravana, Pureology and Redken 5th Avenue NYC.