TIGI To Be Acquired by Unilever
The Mascolo brothers will remain involved with the business and endorse the acquisition as a way to best continue the success of the TIGI brands and education. The company will function as a stand-alone business unit and will remain headquartered in Dallas with the current management team headed by TIGI President Thomas A. Reasonover who will report to Michael B. Polk, president, Unilever Americas.
Unilever's strengths and resources will provide products and education to assist professionals across the salon industry with new technology, brand awareness and strengthened presence.
Bruno Mascolo, CEO of TIGI, says, "We have always been passionate about people, so to be able to advance the industry through our products and education by using Unilever's impressive resources, while continuing to involve those who have made us successful--both customers and employees--is very gratifying. We look forward to our future together."
In 2008, TIGI reported a record global sales increase of 7.5 percent due to the introduction of B for Men, TIGI Colour and Rockaholic. The company plans aggressive new brand introductions and salon programs for 2009.
TIGI's major brands include Bed Head, Catwalk and S-Factor. The company has operations in the U.S., the United Kingdom, Ireland, Italy, Germany and Australia
Subject to regulatory approval, the acquisition is expected to be completed by the end of March,2009.