In Brief: Stephan
This article was originally published in The Rose Sheet
Executive Summary
Stephan: Completes acquisition of Image professional and Modern consumer hair care lines from Oxnard, Calif.-based New Image Labs, the company announced June 27. The deal is expected to increase Stephan's annual sales by $10 mil.; the Fort Lauderdale-based hair care manufacturer reported revenues of $25.8 mil. in 1996. In February, Stephan signed a letter of intent to acquire all of New Image Labs, which would have included the Let's Jam ethnic hair care line. The agreement was amended in April after Stephan decided to limit its acquisition to the two brands to "minimize potential liabilities," Stephan said. Savannah, Ga.-based Carson Products purchased the Let's Jam collection in April ("The Rose Sheet" April 14, In Brief)...