Beauty Systems Group (a subsidiary of Sally Beauty Holding) has purchased Schoeneman Beauty Supply. Schoeneman Beauty Supply is a leading full-service distributor of beauty supplies.
Schoeneman is headquartered in Pottsville, Pennsylvania and employs over 500 people, including over 100 direct sales consultants. Sales revenue in fiscal 2009 is projected to be in the range of $86 million to $89 million. The Company owns 43 professional-only beauty supply stores located in Pennsylvania, Southern New Jersey, Northern Delaware and West Virginia. The direct sales consultants further extend its distribution reach to Maryland, Washington D.C., and Northern Virginia. Schoeneman carries approximately 10,000 SKU’s with a focus on the mid-to-high end of beauty professional products.
Dale Schoeneman, Chief Executive Officer of Schoeneman Beauty Supply, Inc. stated, “We are excited about Sally’s Beauty System Group LLC acquisition. Not only do the two companies share similar cultures, but the added scale and financial resources of the BSG organization bring enormous benefits to our customers, employees, suppliers and community. The Schoeneman family looks forward to BSG’s management team bringing new opportunities to the business.”
Sally Beauty Holdings paid cash of approximately $61 million.
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