Founding boss of the European leader in hairdressing, Franck Provost cedes control of his empire.
The Core Equity investment fund has just signed the purchase of 54% of the capital of Provalliance.
Owner of the Franck Provost, Jean-Louis David, Maniatis, Saint-Algue, Fabio Salsa and The Barber Company brands, the group has 3,200 hairdressing salons in 35 countries, two-thirds of which are franchised.
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In 2019, Provalliance generated sales of 450 million euros (for sales under the brand of 1.5 billion), with an operating margin of between 15% and 20%.
According to our information, the transaction would value Provalliance between 500 million and 600 million euros.
The Covid has nothing to do with the sale, even if Provalliance is coming out of a trying year.
Due to the closure of shopping centers, 400 of its 2,000 salons in France remain closed.
If the group is still profitable, its turnover fell by 30% in 2020. It obtained an EMP,
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