DJ Regis Sells 133 Salons in Pennsylvania

By Dave Sebastian

Regis Corp. (RGS) said it has agreed to sell 133 salons in Pennsylvania and surrounding areas to the Alline Salon Group as the company continues to convert its salons into its franchise portfolio.

The salons being sold are branded Holiday Hair, Famous Hair, Best Cuts, CityLooks, Style America and BoRics Hair Care, Regis said Tuesday.

Of the salons, 105 will operate under the Holiday Hair banner, while the rest would be converted to the Regis Cost Cutters brand, the company said.

Regis said the transition and conversion began earlier this month and will continue into early 2020.

The company has said it would adopt a capital-light business model after a series of salon sales.

"The Pennsylvania transaction marks the culmination of an 18-month process that resulted in the conversion or purchase of 389 salons which will operate under the Supercuts, Cost Cutters and Holiday Hair brands," Michael Sarafa, managing partner of Alline Salon Group, said.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

December 17, 2019 07:49 ET (12:49 GMT)

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