Regis® Announces Profitable Sale and Transfer of 96 Supercuts® Salons to Spanos Barber Jesse & Co. backed Moxie Management Group

MINNEAPOLIS–(BUSINESS WIRE)–Regis Corporation (NYSE: RGS), a leader in the haircare industry, whose
primary business is franchising, owning, and operating hair salons,
today announced the profitable sale and transfer of 96 of its
California-based Supercuts® salons to the Moxie Management Group
(Moxie), a portfolio company of a Spanos Barber Jesse & Co. (SBJ)
managed fund.

“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 be
meaningfully expanding 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.”

Supercuts, the Official Hair Salon of Major League Baseball®, expects to
initiate a new marketing campaign during All Star Week®, which is being
held in Cleveland July 5-9, 2019.

The Moxie salons join over 2,700 Supercuts® across the United States,
Canada and Puerto Rico that provide consistent, high-quality hair-care
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

About Regis Corporation

Regis Corporation (NYSE: RGS) is a leader in beauty salons and
cosmetology education. As of March 31, 2019, the Company franchised,
owned or held ownership interests in 7,838 worldwide locations. Regis’
corporate and franchised locations operate under concepts such as
Supercuts®, SmartStyle®, MasterCuts®, Regis Salons®, Sassoon®, Cost
Cutters®, Roosters® and First Choice Haircutters®. Regis maintains an
ownership interest in Empire Education Group in the U.S. For additional
information about the Company, including a reconciliation of certain
non-GAAP financial information and certain supplemental financial
information, please visit the Investor Information section of the
corporate website at
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About Moxie Management Group

Moxie owns and operates nearly 100 Supercuts salons throughout
California. At Moxie, our stylists are our most valuable assets, and we
invest heavily in them so that our customers feel confident in every
haircut we provide. Moxie stylists are available seven days a week for
walk-in services, or customers can check-in on the Supercuts’ app or
website for an even more convenient experience. Existing Supercuts
franchisees looking to partner with Moxie or stylist candidates can
contact us at

About Spanos Barber Jesse & Co.

Spanos Barber Jesse & Co. is a private equity firm with approximately
$300 million of committed capital, focused on leading investments in
founder and family-owned consumer, business services and healthcare
services companies. SBJ provides thoughtful strategic advice, domain
expertise and a partnership-oriented approach to support the goals of
entrepreneurs, owners and management teams. SBJ was founded by an
experienced team of professionals with a track record growing companies
both as principal investors and as operating executives. Please visit
for more information.

Safe Harbor Statement

This press release contains or may contain “forward-looking statements”
within the meaning of the federal securities laws, including statements
concerning anticipated future events and expectations that are not
historical facts. These forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. The forward-looking statements in this document reflect
management’s best judgment at the time they are made, but all such
statements are subject to numerous risks and uncertainties, which could
cause actual results to differ materially from those expressed in or
implied by the statements herein. Such forward-looking statements are
often identified herein by use of words including, but not limited to,
“may,” “believe,” “project,” “forecast,” “expect,” “estimate,”
“anticipate,” and “plan.” In addition, the following factors could
affect the Company’s actual results and cause such results to differ
materially from those expressed in forward-looking statements. These
factors include the continued ability of the Company to implement its
strategy, priorities and initiatives; our ability to attract, train and
retain talented stylists; financial performance of our franchisees;
acceleration of sale of certain salons to franchisees; The Beautiful
Group’s ability to transition and operate its salons successfully, as
well as maintain adequate working capital; the ability of the Company to
maintain a satisfactory relationship with Walmart; marketing efforts to
drive traffic; changes in regulatory and statutory laws including
increases in minimum wages; our ability to maintain and enhance the
value of our brands; premature termination of agreements with our
franchisees; our ability to manage cyber threats and protect the
security of sensitive information about our guests, employees, vendors
or Company information; reliance on information technology systems;
reliance on external vendors; competition within the personal hair care
industry; changes in tax exposure; changes in healthcare; changes in
interest rates and foreign currency exchange rates; failure to
standardize operating processes across brands; consumer shopping trends
and changes in manufacturer distribution channels; financial performance
of Empire Education Group; the continued ability of the Company to
implement cost reduction initiatives; compliance with debt covenants;
changes in economic conditions; changes in consumer tastes and fashion
trends; exposure to uninsured or unidentified risks; ability to attract
and retain key management personnel; reliance on our management team and
other key personnel or other factors not listed above. Additional
information concerning potential factors that could affect future
financial results is set forth in the Company’s Annual Report on
Form 10-K for the year ended June 30, 2018. We undertake no obligation
to publicly update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise. However, your
attention is directed to any further disclosures made in our subsequent
annual and periodic reports filed or furnished with the SEC on Forms
10-K, 10-Q and 8-K and Proxy Statements on Schedule 14A.


Andrew Lacko

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