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Search forHair group grows in Scissors move
Monday, October 06, 2008, 09:20
The company has bought the Scissors Hair Design Group in Bournemouth for an undisclosed sum.
The Scissors Group was established 30 years ago and employs 70 people at salons in Bournemouth, Ferndown, New Milton, Westbourne, Winton and Poole.
Francesco has formed a new company with former managing director of Wella UK Steve Lowe to run the Scissors brand.
Francesco Group employs 80 people directly and operates a franchise network that currently has an annual turnover of £11 million.
Its 30 franchisees employ about 550 people with salons in towns and cities between Chester and Cheltenham.
Mr Lowe said: "It's going to be a very exciting time for everyone involved.
"Scissors is a premium hairdressing brand which has established an enviable reputation for itself over the years, both within the UK professional hairdressing industry as well as with consumers in and around the Bournemouth area. I am very excited about the opportunity to develop it further.
"There is undoubtedly growth potential within the business, but both Francesco Group chairman Peter Dellicompagni and I will be equally focused on the existing salons within the group.
"Our initial priority will be to increase support for these outlets so that they can continue to flourish and reach their full potential."
Francesco, which has its headquarters on Lichfield Street, also runs two training academies in Stafford.
Mr Dellicompagni said: "We've worked hard to develop Francesco Group over the years, but as we expand, finding good quality salons to add to our portfolio has become more and more challenging, which is why I'm delighted with the acquisition of the Scissors Group.
"We are extremely ambitious here, we have a great team within the company and we believe that in order to grow we needed to look beyond our traditional heartland base which is in the Midlands."
The Stoke-on-Trent branch of business services firm Baker Tilly helped put the deal together.
Anne Lakin, partner at Baker Tilly's Festival Park office, said: "With considerable brand equity among very local customer bases, Francesco Group and Scissors hold strong positions in what are challenging economic conditions.
"Steve and Peter view this deal as a long-term venture.
"I've no doubt that they'll maximise the many synergies that exist between the two organisations."
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Clockwise from top left, Steve Lowe of Scissors, Don White of Pickering and Butters, Ben and Peter Dellicompagni of Francesco Group, Anne Lakin of Baker Tilly and Francesco Dellicompagni of Francesco Group.
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