New York-based private equity firm Apollo Management is in talks to buy hair salon chain Regis Corp., Reuters reported, citing an article in the New York Post. Minneapolis-based Regis owns or franchises more than 12,700 hair salons around the world.
(Reuters) – Private equity firm Apollo Management [APOLO.UL] is in talks to buy hair salon chain Regis Corp , the New York Post said, citing two sources close to the situation.
The talks were not final negotiations, the paper said.
Last month, the Post said the auction of Regis was going slowly and would likely not attract as high a price as the market was expecting.
Regis shares have fallen 13 percent since and the decline could have rekindled interest in the auction, the paper said.
Both Apollo and Regis, which owns or franchises 12,700 hair salons around the world, could not immediately be reached for comment by Reuters. (Reporting by S. John Tilak in Bangalore; Editing by David Holmes)