News

Walgreen Launches Multilingual Service, Solar Power

BY CSA STAFF

Deerfield, Ill., Walgreen Co. will begin offering multilingual counseling at its pharmacy. The drug store retailer has developed a service that will allow in-store customers with limited English-language abilities to speak with a pharmacist in their native language over the phone. Walgreen will begin to roll out the service in February.

In a separate development, Walgreen said it will install solar electric systems at 96 stores and two distribution centers in California, and 16 stores in New Jersey. The new solar systems, installed with help from Denver-based energy solutions company ImaginIt Inc., will generate more than 13.8 million kilowatt-hours per year, making it the largest solar-power project ever completed in the U.S., Walgreen said. The first systems will become operational early this year.

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News

Alberto-Culver to Sell Sally Beauty to Regis

BY CSA STAFF

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.

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FINANCE

Home Depot Buys Hughes Supply for $3.47B

BY CSA STAFF

Atlanta, The Home Depot announced an agreement to acquire the Orlando, Fla.-based construction, repair and maintenance-products distributor Hughes Supply Inc. The deal is valued at $3.47 billion, including the assumption of $285 million in net debt.

The addition of Hughes Supply will double the size of The Home Depot Supply division. Combined annual sales are estimated to be near $12 billion. Hughes, which operates more than 500 stores in 40 states, gathered revenues of $4.4 billion in its last fiscal year.

In a separate deal, Home Depot purchased Chem-Dry, a Logan, Utah-based provider of carpet and upholstery cleaning. Terms of the deal are undisclosed. Home Depot said it has not yet decided if the Chem-Dry locations will carry The Home Depot name.

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