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Sally Beauty Supply has had a bad year

Would you believe Sally’s been kicked out of the house?

Boy the Sally’s Beauty Supply saga never seems to end.

For regular readers of this space you’ve probably followed the story of one of my favorite sources for hair care supplies. Sally Beauty is a fine company and doesn’t deserve abuse that it has taken at the hands of its founder, parent company and other vultures who only seem to be in the picture to strip her of any assets or management.

It all started in January with my article Regis and Sally Beauty Supply, in which the whole mess got started with proposed marriage between Sally’s and Regis. Then in April Sally gave back the ring, Sally Beauty Supply – Regis deal is off. When everybody found out that Regis didn’t have as fat a wallet as they thought. Then in another April story, Sally Beauty Supply, nobody wants her Sally’s parents announced they were hunting for a new beau for Sally. Finding nobody, now Sally’s parents are kicking her out?

It almost is starting to read like a soap opera . . .

Sally Beauty Co. is being spun off by personal care and consumer products company Alberto-Culver Co. in a $3 billion transaction.

Under the deal, Denton-based Sally Beauty will become a publicly traded company listed on the New York Stock Exchange.

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Read the entire article Alberto-Culver to spin off Sally Beauty

Stay tuned for the next exciting adventure of Poor Sally!

  



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Sally Beauty Supply, nobody wants her

Sally Beauty Supply is being kicked out of the house

Back on January 12th I wrote a piece about the ugly divorce between the founders of Alberto Culver, Carol and Howard Bernick. This story continues to get weirder and weirder as each new development evolves. In what has become one of the ugliest business destroying divorces of my memory. A family squabble, not unlike that of every family, only not many of us make the front page of the financial times.

In a move, I’m sure necessitated by a need for cash to buy each other out, the Alberto Culver board of directors decided to marry Regis with their daughter Sally Beauty Supply. Then suddenly last week the Alberto Culver board of directors announced that the nuptials were off. Personally, I do not think this whole mess has anything to do with problems at Regis. If you think this one through, you can kind of see behind the curtains. The board of directors is struggling mightily to keep the Bernicks’ from taking down the whole shebang in an awful messy divorce.

Can you imagine the turmoil, stress and anguish of the employees at Sally Beauty Supply, Regis, and Alberto Culver. This has got to be tearing them apart. That’s the real sad part of this story. Both Sally Beauty Supply and Regis are well managed companies, populated with good employees who do not deserve to suffer the consequences of the Bernicks’ messy divorce.

Now it appears as the parents are kicking Sally out of the house. Here’s the latest development in the saga courtesy of MSN:

Alberto considers options as Regis deal fails

Alberto-Culver, the world’s largest seller of hair salon products, will consider spinning off its consumer goods and beauty outlets businesses.

The move comes after a $2.6bn deal to merge its Sally Beauty Supply chain with Regis Corporation fell apart last week.

The collapse of the deal with Regis, the leading global operator of hair salons, has thrust US-based Alberto into the spotlight.

It has raised speculation that the group, which makes VO5 shampoo and is the number two hair care company in the UK, could be a takeover target.

Alberto in January agreed with Regis to spin off its chain of almost 2,500 Sally Beauty Supply professional hair care salons to Regis.

The aim was to resolve a conflict between Alberto’s role as supplier of shampoo and other personal care products to retailers such as Wal-Mart and as a competitor to such retailers by selling products from Procter & Gamble and L’Oreal at its own stores.

Howard Bernick, chief executive, said the arrangement had “made for some unusual partnerships”.

The Regis deal would have separated out Alberto’s consumer products business, which accounts for about one-third of group sales, from the hair salon business.

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