L’Oréal USA has signed an agreement to buy key assets of wholesale distributor Raylon Corporation, from its owners the Hafetz family.
Raylon Corporation is a distributor of salon professional products. The deal sees Raylon hand over all 13 of its stores to L’Oréal USA, and sell back the rights to L’Oréal USA for its brands, which include Redken, Pureology, L’Oréal Professionel and Essie. The deal is due to come into effect from 27 February.
Since 2008, L’Oréal USA has been focusing on buying up its own distribution rights across the US through its distribution subsidiary SalonCentric. Through the acquisition, L’Oréal USA hopes to expand SalonCentric’s distribution reach in Pennsylvania, New Jersey, Delaware, and portions of Maryland, West Virginia and New York, Raylon’s key markets, representing approximately 3,500 salons.
In a video statement, Raylon’s Howard Hafetz said: “We’re thrilled that we are able to now to stand in front of you and see that L’Oréal is achieving their goal but they we get too achieve our goal – and that is to stay in business for our family and our company and our people; to continue doing what we like best and that is serving you and staying in this wonderful business that we call beauty.” He added: “It’s a win-win for all.”
Operating in 48 states, SalonCentric brands include: L’Oréal Professionnel, Matrix, Mizani, Moroccanoil, Olaplex, Pravana, Pureology, Redken 5th Avenue, Sam Villa, Sexy Hair, Surface Hair, L’ANZA and many others.
