Sally Beauty Unit Buys Schoeneman

Sally Beauty Unit Buys Schoeneman

Sally Beauty Holdings Inc. said Friday its Beauty Systems Group LLC subsidiary has acquired Schoeneman Beauty Supply Inc., a privately held beauty products distributor based in Pottsville, Pa., for $61 million in cash.

The acquisition, which will help BSG increase its national presence, particularly in the Northeast, is expected to add slightly to the Denton, Tex.-based company's earnings per share in 2010. Upon full integration of Schoeneman, the hair products and beauty supplies distributor also anticipates cost synergies to be realized, which will further enhance EPS in 2011.

This acquisition directly...