New York City, Alberto-Culver said Tuesday that it signed a $2.6 billion agreement to spin-off the Sally Beauty Co. retail chain and merge it with Regis Corp.
The combined company will include Sally Beauty’s 2,419 namesake stores and 822 BeautySystems Group outlets and Regis’ 10,952 beauty salons. The salons operate under such brand names as Regis, Supercuts, Trade Secret and Vidal Sassoon.
The boards of Alberto-Culver and Regis have voted to approve the transaction, which is still subject to both shareholder and regulatory approval. The deal is expected to be completed in late spring or early summer.