Printer Friendly

THE BARBERS ACQUIRES 22 SALON FRANCHISES, EXPANDING INTO THE NEW ENGLAND MARKETPLACE

 MINNEAPOLIS, June 1 /PRNewswire/ -- On June 1, 1993, The Barbers(R) Hairstyling for Men & Women, Inc., a Minneapolis-based publicly held company of a combined chain of 632 franchised hair salons called Cost Cutters, City Looks, The Barbers and Hair Performers, is pleased to announce an acquisition from Rancar Corporation, a Connecticut-based company of 22 franchised hair salons called Family Haircut Stores. Family Haircut Stores serves the same clientele as Cost Cutters and expands The Barbers into a new marketplace in the New England area.
 The Barbers 632 shops, with locations throughout the United States, Canada, France and Moscow and the recent acquisition of Family Haircut Stores, ranks it third among the top franchised hair salon companies worldwide.
 Barbers founder and chairman, Joe Francis said, "We hope to convert (Family Haircut Stores) with minimum cost as they already are quite similar in decor and service concept to our Cost Cutters salons." The acquisition of Family Haircut Stores Franchises will have an estimated $6,000,000 in sales, which means an immediate 5 percent increase in The Barbers total operation size and increases the Barbers presence in Connecticut where most of the acquired Family Haircut Stores are located.
 Francis noted that The Barbers did not buy the Connecticut-based Family Haircut company operated stores; but rather it acquired the 22 individual franchise contracts. Terms of the acquisition were not disclosed.
 For the year ended Sept. 30, 1992, The Barbers did $11.5 million in revenues, compared to $11.3 million the previous year. Management expects that F1993 will be a record year both in terms of earnings and total number of salons.
 -0- 6/01/93
 /CONTACT: Joe Francis, chairman of the board, 612-331-8500, ext. 125, or Annette Bartizal, 612-331-8500, ext. 135, both of The Barbers/


CO: The Barbers Hairstyling for Men & Women, Inc.; Family Haircut
 Stores; Rancar Corporation ST: Minnesota, Connecticut IN: REA SU: TNM


DB -- MN008 -- 3884 06/01/93 11:44 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 1, 1993
Words:322
Previous Article:CASCADE MEDICAL SIGNS MALAYSIAN DISTRIBUTION AGREEMENT; CONTINUES EXPANSION INTO PACIFIC RIM FOR CHECKMATE SYSTEM
Next Article:ARNOLD PALMER GROUP TO DESIGN CASINO MAGIC CHAMPIONSHIP GOLF COURSE
Topics:


Related Articles
REGIS CORPORATION COMPLETES PURCHASE OF TRADE SECRET CHAIN
THE BARBERS HAIRSTYLING FOR MEN & WOMEN, INC. AND AMERICAN GLOBUS PARTNER IN A JOINT VENTURE FOR A CITY LOOKS SALON IN VLADIVOSTOK, RUSSIA
THE BARBERS REPORTS 46 PERCENT IMPROVEMENT IN NET INCOME FOR FOURTH QUARTER; 40 PERCENT GAIN FOR YEAR
THE BARBERS REPORTS 21 PERCENT INCREASE IN NET INCOME FOR FIRST QUARTER
THE BARBERS REPORTS 91 PERCENT INCREASE IN NET INCOME FOR SECOND QUARTER; OPENS 600TH COST CUTTERS SALON
THE BARBERS OPENS 600th COST CUTTERS SALON
THE BARBERS POSTS 37 PERCENT GAIN IN NET INCOME FOR FISCAL 1995
REGIS ACQUIRES SEVEN SALONS; COMPANY CONTINUES ACQUISITION STRATEGY
The Barbers To Acquire We Care Hair Salon Chain
The Barbers Acquires We Care Hair Salon Chain

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters