Regis Buys Beauty School Chain
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Minneapolis-Regis Corp., which owns several hair salons including Supercuts, Cost Cutters and First Choice Haircutters, has expanded its hair-care activities into the beauty-school business by buying the Blaine Beauty Career Schools chain. Blaine is a Boston-based company operating six schools in Massachusetts.
Regis said it expects Blaine to add $13 million in annualized revenue and add one penny per share to Regis' earnings in fiscal 2005.
Regis has completed 293 acquisitions in the past 10 years, adding more than 7,400 salons. It had a $25.6 million profit on $481.4 million in sales in the first quarter of this year.