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Regis Corporation Acquires Blaine Beauty Career Schools Regis Corporation (NYSE:RGS), the global leader in the $140 billion hair care industry, has announced that it has entered the beauty school business with the acquisition of Blaine Beauty Career Schools, an established chain of 6 schools located in Massachusetts. The acquisition is expected to add $13 million in annualized revenue and to add one penny per share to earnings in fiscal year 2005. The beauty school business represents the logical extension of Regis' commitment to education. Regis currently employs 156 artistic directors, produces award-winning training programs and invests over $16 million each year training its 53,000 stylists world-wide. "We are enthusiastic about entering into the beauty school business, as it adds an incremental revenue stream to our salon business," commented Paul D. Finkelstein, chairman and chief executive officer. "In fact, we believe the beauty school business could eventually be at least a $100 million business for us, with significant earnings." Henri Blain, founder of Blaine Beauty Career Schools commented, "This is an exciting time for our employees and students as we are now part of Regis, the leading employer in the salon industry. The combination of Blaine's strong curriculum and Regis' managerial expertise will elevate the cosmetology school industry." Including the acquisition announced today, Regis Corporation completed 293 acquisitions in the past ten years adding over 7,400 salons and generating annualized revenue of nearly $1.0 billion. Regis Corporation, a Fortune 1000 company, is the largest owner, operator and franchisor of hair and retail product salons in the world. The Company operates and franchises over 10,000 salons utilizing several concepts including: Supercuts, Jean Louis David, Vidal Sassoon, Regis Salons, MasterCuts, Trade Secret, SmartStyle and Cost Cutters. These salons are located in the United States, Canada, France, Italy, United Kingdom, Spain, Germany, Belgium, Switzerland, Poland and Puerto Rico. Regis
Corporation is headquartered in Minneapolis, Minnesota. The Company's
common stock is traded on the New York Stock Exchange under the symbol
RGS. |
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