HCP Press Releases
September 15, 2008
HCP Completes Sale of Samy Companies, Inc. to Japan-based Hoyu Co., Ltd.
CHICAGO, Sept. 15 /PRNewswire/—HCP & Company (“HCP”) announced today the sale of Samy Companies, Inc. (“SAMY”), to Hoyu Co. Ltd a privately held, international hair care products company based in Nagoya, Japan. The terms of the transaction were not disclosed. SAMY is HCP’s second exit, following the sale of PrensAmerica in 2005.
HCP invested in SAMY, a leading provider of salon-quality styling and shampoo products, in 2004. It immediately set out to strengthen the management team, expand retail channels of distribution and shift the product mix toward higher margin styling products. During HCP’s ownership, SAMY achieved significant revenue and profitability benchmarks, increasing sales at a compound annual rate of 37%.
Sam Maniaci, Chief Executive Officer of SAMY, said, “HCP was an excellent partner for SAMY. In addition to providing the required financial resources, HCP was instrumental in helping to chart SAMY’s long-term vision as we transitioned to a retail distribution strategy and increasing brand equity of the business. The successful completion of these initiatives has established SAMY as a long-term premium brand in the hair care industry.”
Headquartered in Tampa, Florida, SAMY was founded by Mr. Samuel Suarez (“Samy”), a world-renowned Miami-based hairstylist and hair care expert, who initially grew his enterprise by targeting the U.S. Hispanic market. Today, SAMY’s products are sold in approximately 32,000 doors by 60 retailers throughout the U.S. and Europe including, Walgreens, Target, CVS, Rite Aid, and Muller. SAMY products are also offered on the Home Shopping Network (“HSN”) in the U.S., Home Shopping Europe in Germany, and Ideal Networks in the U.K.
Carlos Signoret, a Managing Partner at HCP, noted, “We are very pleased with SAMY’s impressive growth from an Hispanic themed retail brand to one with general market and international appeal. This transition was instrumental in achieving our investment objectives and creating value for our shareholders.”
Victor Maruri, a Managing Partner at HCP, stated, “SAMY’s impressive performance over the past several years validates our investment thesis and confirms the existence of attractive business opportunities within our target markets.”