L’Oréal USA to Acquire Key Assets from Raylon Corporation
L’Oréal USA, the largest subsidiary of L’Oréal S.A., announced the signing of an agreement to acquire key assets from Raylon Corporation, a full-service, family-owned wholesale distributor headquartered in Reading, Pennsylvania. The acquisition will expand SalonCentric’s distribution coverage of salon professional products within Pennsylvania, New Jersey, Delaware, and portions of Maryland, West Virginia and New York. Additionally, this agreement enables the Hafetz family, under the leadership of Howard and Josh Hafetz, to continue serving salon professionals with select brands in Pennsylvania, New Jersey, Delaware and New York under a new name, Art of Business. These brands will be specific to Art of Business and will be different from SalonCentric’s brand catalog.
This acquisition will align Raylon’s field sales and stores with SalonCentric’s field sales and store network. In total, 13 stores and various field positions that service 3,500 salons will be included in the transaction.
“We are excited to expand SalonCentric and the brands we distribute into this key territory and to share the SalonCentric experience with a new community of beauty professionals,” said Bertrand Fontaine, President of SalonCentric. “By increasing SalonCentric’s footprint we will be able to build relationships with beauty professionals in the Northeast and provide them with the brands, tools, education and support to help them grow their salon businesses.”
SalonCentric, which is headquartered in St. Petersburg, Fla., was created as a distributor of salon professional products by L’Oréal USA in 2008. SalonCentric currently operates in 48 states, and includes 636 sales consultants 550 SalonCentric stores and 261 StateǀRDA stores. Brands carried by SalonCentric include L’Oreal Professionnel, Matrix, Mizani, Moroccanoil, Olaplex, Pravana, Pureology, Redken 5th Avenue, Sam Villa, Sexy Hair, Surface Hair, L’ANZA and many others.
Raylon, which was founded in 1953 by Joe Hafetz, grew to become an industry leader in pioneering salon education and business training. To further support its clients and their business potential, Raylon founded Salon Today magazine, The Institute of Salon Business, and the Art of Business events, inspiring the new name of the Hafetz’s company. Key brands to be carried by Art of Business include Cezanne, Eufora, Evo, Lasio, Pai Shau, Ruezel and Unite, along with others.
“Raylon has always been committed to the salon professional and we believe this acquisition will provide salon professionals that we’ve served in this market with opportunities for continued growth,” said Howard Hafetz, CEO and son of Raylon Founder Joe Hafetz.
The closing is subject to customary conditions.
Originally posted on Modern Salon.