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Sally Beauty Holdings, Inc.
SBH announces the acquisition of Aerial Company, Inc. by its subsidiary Beauty Systems Group LLC . The addition of Aerial will extend BSG's distribution reach and breadth of professional beauty product offerings in the Midwest region of the U.S.
Sally Beauty Holdings paid $70 million, net of the present value of the future incremental tax benefit expected to be realized by the Company from the transaction. The acquisition is expected to be slightly accretive, post integration costs, to Sally Beauty Holdings' earnings per share in fiscal year 2011. Cost synergies are expected to be realized upon full integration of Aerial, and the Company projects further accretion to Sally Beauty Holdings' earnings per share in fiscal year 2012.
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