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Alberto-Culver to Buy Beauty Firm

September 25, 2003|From Bloomberg News

Alberto-Culver Co., the world's largest seller of beauty salon products, agreed to acquire West Coast Beauty Supply Co., which distributes beauty supplies in the Western United States.

Terms of the transaction weren't disclosed.

The acquisition would add about $170 million to Alberto-Culver's annual sales, the Melrose Park, Ill.-based company said in a statement.

Benicia, Calif.-based West Coast Beauty has 122 stores in Western states including California, Washington, Oregon and Arizona, Alberto-Culver said.

The transaction, which the company said it expected to conclude before the end of the year, would give Alberto-Culver's Beauty Systems Group a total of 650 stores in the United States, Canada and Mexico, the company said. The Alberto-Culver unit would have a presence in about 80% of the U.S.

Alberto-Culver's Class B shares fell 75 cents to $58.15 in New York Stock Exchange trading.

The news was released after the market closed.

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