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Regis Sells Stake in Provalliance

Exits ownership of largest hair salon firm in Europe.

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By: TOM BRANNA

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Regis Corporation has entered into an agreement with members of the Provost family to sell its minority ownership interest in Provalliance, the largest hair salon company in Europe. Under the terms of the agreement, Regis will receive 80 million euros in cash. The transaction is expected to close prior to Sept. 30, 2012 and is subject to the Provost family securing financing for the purchase price, the salon chain operator said today. “As part of our ongoing evaluation of non-core asse...

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