Stephan Co buys up beauty supplier

By staff reporter

- Last updated on GMT

Related tags: Nail care, Economics, Stephan

The Stephan Company has announced the acquisition of North
Carolina-based Bowman Supply and Beauty Business.

Described by the company as 'a very important acquisition' the move aims to strengthen its position in the professional barber and beauty supply business, where it is already a significant player in the US. Neither the specific terms nor the cost of the transaction were disclosed by the company. Acquisition a good fit​ The acquisition will fit nicely in the Massachusetts-based company's portfolio, alongside similar businesses that include Williamsport Barber and Beauty Supply, Morris Flamingo and Major Advance distribution. Stephan CEO Frank Ferola said that despite the current difficult economic environment, the company aims to continue with its search for similar acquisitions to bring further value to the business. Stephan has been acquisitive of late with the aim of enhancing its manufacturing and distribution operations in order to provide a stronger platform from which to grow in the future. Buys into nail care​ In April of last year, the company announced the acquisition of the nail care business American Manicure, which it bought for $1.5m. That deal followed Stephan's move to buy up the American Manicure Laboratories back in 2005, a transaction that aimed to broaden its capabilities in the nail care segment. In 2005, the company also announced a licensing agreement with Simply Organic to manufacture, market and distribute the Simply Organic line of personal care products. Currently Stephan runs a total of five manufacturing operations throughout the US, and is active in the hair care, skin care, sun care and color cosmetic markets.

Related topics: Business & Financial

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