TNG Worldwide has signed a definitive agreement to acquire Salon Source, a full-service beauty distributor based in Houston, Texas, which becomes effective October 26, 2010.
“Texas boasts three of the top ten cities in the USA and continues to attract people. Texas is underserved when it comes to professional beauty distribution and we are excited to do in Texas what we accomplished in Michigan,” states Larry Gaynor, President & CEO, TNG Worldwide. Texas has approximately 27,000 salons servicing its population of 24 million. Salon Source has store locations in Austin, Dallas, Ft. Worth and Houston.
“This is an extremely good fit between companies and I’m excited to continue to grow the Texas marketplace with TNG’s immense resources and dedication to its customers” comments J.D. Wright, Founder of Salon Source, who will stay on as VP of the Texas division.
To accommodate the growth, TNG is opening a new 30,000 sq. ft. distribution center in Coppell, Texas, a Dallas suburb. “We will have everything in place for our opening November 1,” states Gaye Wanner, VP Logistics, TNG Worldwide. In addition to the brands Salon Source sells, TNG will add many of its Michigan brands to the fold. “This is a very exciting time for our employees, our customers and suppliers,” adds Gaynor.
Founded in 1985, TNG Worldwide is a team of professionals delivering solutions and experiences that inspire beauty. TNG Worldwide is the leader in providing professional beauty products and superior service to the salon, spa, and hospitality industry. TNG Worldwide has distribution centers in California and Michigan, and 20 store locations. www.tngworldwide.com Contact information: Jon Schofield, TNG Worldwide, 248-347-7700 x2487, jschofield@tngworldwide. com, 23200 Haggerty Rd., Farmington Hills, MI 48335