Regis Sells Substantially All Of Its Mall-based Salon Business In North America

(RTTNews) - Regis Corp. (RGS) said that it has sold substantially all of its mall-based salon business in North America and entered into an agreement to sell substantially all of its International segment to The Beautiful Group, an affiliate of Regent, who will operate them as the Company's largest franchisee.

The transaction includes 858 of the Company's North America Regis Salons and MasterCuts locations, which are full-service, mall-based salons, as well as the intellectual property related to MasterCuts and certain other trade names. The announced transaction also includes the Company's 250 Regis Salons and Supercuts salons in the U.K. The Company noted that the approximately 9,800 stylists and managers in the salons associated with this transaction will become employees of The Beautiful Group and its affiliates, along with their existing field leaders in the mall-based and International segments.

The International portion of the transaction is expected to close in October 2017.