NEW YORK — The saying, "One man’s trash is another man’s treasure," couldn’t be more aptly applied to hair care company Alleghany Pharmacal Corp. The Great Neck, N.Y.-based company generates more than $50 million in wholesale sales a year based on a business plan that sees more value in acquiring and fixing a damaged brand than in building one organically. Of the seven brands it markets, not one got its start in-house. And none have targeted a customer below the age of 30 either.

Its latest picking is Willow Lake, a hair care brand that Alleghany acquired last November from The Lamaur Corp. The brand targets a younger demographic than Alleghany’s other holdings, and also brings its brand portfolio into the 21st century.

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