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ROUNDUP / BARBARA MURPHY

New Image Labs to Be Acquired by Florida Firm

March 25, 1997|BARBARA MURPHY

New Image Laboratories in Oxnard, which manufactures hair care products sold through professional salons and retail outlets, has accepted a letter of intent to be acquired by The Stephan Co., a publicly traded corporation based in Fort Lauderdale, Fla.

The final agreement, subject to due diligence by both companies, is expected to be completed soon, New Image officials said. New Image will continue as a separate concern, although The Stephan Co. will take an active management role.

The Stephan Co., founded in 1897, manufactures and distributes personal care products at its two Florida plants, including the Trevor Sorbie of America designer hair care products marketed exclusively through salons.

"The entire management and sales/marketing team at New Image sees exciting direction and a strong synergy in this merger," said Jay Jacobs, New Image senior vice president for sales and marketing. "We foresee continuity in our direction, but with the addition of new corporate resources to better service our customers."

New Image professional products are sold exclusively through salons in the United States and through 32 international distributors. The company also markets the retail brands Stiff Stuff, Pure Botanicals/Deep Earth, Modern Essences and Let's Jam.

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