PARIS – Regis Corp. plans to sell a majority stake in its franchise salon operations in continental Europe to Franck Provost Salon Group to create what the firms call the largest hair-salon company in Europe, the firms said Tuesday.
Terms of the deal, which is expected to close in Jan. 2008 and does not include Regis’ operations in the U.K., were not disclosed.
Regis will retain a 30 percent stake in the new hair-salon entity.
Combined, the two firms' operations will include more than 2,200 company-owned and franchised salons generating over $200 million in revenues and over $900 million in system-wide sales.
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