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Regis continues to exit international markets with Provalliance sale

Last updated on 02-Oct-2012 at 17:39 GMT2012-10-02T17:39:42Z

Hair care provider Regis has continued its move away from international markets with the sale of its European hair salons business Provalliance.

The company has confirmed the sale of the business for Euros 80 million ($105m) of its stake in the business, which operates hair care salons all over Europe, but mainly in France.

Regis runs the Supercuts and Mastercuts hair care salons, which are very popular in the North America market, but recent financial results have shown that the company has been held back by its overseas operations, which are also its non-core assets.

Previously Regis said in July that that it was selling its hair replacement business, Hair Club for Men and Women, to Japan-based Aderans for $163.5 million.

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