Regis Corporation (NYSE:RGS), the global leader in the $160 billion haircare industry, announced it has entered into a partnership with Roosters Men’s Grooming Center, a well-established, growing franchise concept that combines modern grooming techniques with classic barbershop elements. The transaction was completed on Friday, July 1, 2011.
“Roosters is a terrific complement to Regis’ family of brands, including our RAZE for Men and Pro-Cuts concepts,” said Randy Pearce, president of Regis Corporation. “Although this partnership is not a significant economic investment for Regis, it will allow us to further accelerate our franchise growth and give us even more strength to maximize the underserved men’s haircare and grooming segment.”
The agreement also leverages Roosters’ management expertise. Roosters will continue to be operated by its management team, which includes CEO Greg Longe, founders Joe and Aaron Grondin, and Kurt Landwehr. Landwehr will join Regis Corporation as the head of Franchise Development and work with Alan Storry to oversee development of its nine franchise brands, plus Roosters. Landwehr brings 18 years of franchise development and sales experience to Regis Corporation.
Acquired by its current owners in 2008, Roosters has grown to 35 franchised salons in 15 states including Nevada, Michigan, Georgia, Texas, Colorado and Ohio. The company expects to open an additional 40 franchised salons during its fiscal year ending June 30, 2012 and has awarded development rights to 170 new salons across the country. Roosters emphasizes quality and value with services ranging from men’s haircuts, color, and beard trims to their Signature 7-Step Facial Shave that includes hot steam towels and a deep cleansing facial massage.
Image courtesy of Evans Larson Communications.