SBJ Acquires 96 Supercuts Salons
June 13, 2019
Spanos Barber Jesse & Co. ("SBJ") is pleased to announce the acquisition of 96 Supercuts® salons by Moxie Management Group ("Moxie"), a new portfolio company of SBJ. Moxie's salons will operate as a franchisee of Regis Corporation (NYSE: RGS), a leader in the haircare industry, whose primary business is franchising, owning, and operating hair salons.
"We are delighted to broaden our successful relationship with the Moxie Group to facilitate the continued growth of our Supercuts® brand in California. Moxie and SBJ not only bring proven experience with the Supercuts® brand but also have an impressive record of performance with several other retail and consumer-focused companies. High-quality partnerships like this will help us grow and strengthen the Supercuts® brand and our franchise portfolio," commented Eric Bakken, Executive Vice President, President - Franchise of Regis Corporation.
Michael Stajer, CEO of Moxie, commented, "We are excited to meaningfully expand our relationship with Regis®. Our partnership with both Regis and SBJ will allow us to continue to expand our footprint throughout the U.S. while we carry-on Supercuts®' 40+ year heritage of providing affordable, high-quality haircuts in a convenient setting." Gus Spanos, Co-Founder of SBJ, added, "We are very excited to be a part of the Supercuts® brand and Regis family and look forward to a successful partnership in the years ahead."
Hugh Sawyer, President and Chief Executive Officer of Regis Corporation, commented, "We have been undergoing a multi-year strategic transformation at Regis, and an important element of that transformation is accelerating the growth of our asset-light franchise portfolio where it supports shareholder value and an emerging strategy for our business."
The Moxie salons join over 2,700 Supercuts® across the United States, Canada and Puerto Rico that provide consistent, high-quality haircare services and professional products to guests at convenient times and locations at reasonable prices. Supercuts® offers a broad selection of professional haircare products including Paul Mitchell, American Crew, TIGI, Redken, Biolage and more. For more information, visit Supercuts.com
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