TNG Worldwide Acquires Salon Source

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Someone once said you either move onward or downward. I prefer to move onward and in one of the biggest moves in TNG’s 26 year history, we are moving into TEXAS in a real TEXAN way: Big time.

Here is an excerpt of the press release sent to media and trade publications. Now you know why news is instant these days!

FOR IMMEDIATE RELEASE
TNG Worldwide announces acquisition of Salon Source, Houston, TX
TNG Worldwide announces opening of new distribution center in Dallas, TX

Farmington Hills, Michigan/USA- September 20, 2010

TNG Worldwide has signed a definitive agreement to acquire Salon Source, a full-service beauty distributor based in Houston, TX. The acquisition will be effective October 26, 2010.

“Texas boasts three of the top ten cities in the USA and continues to attract people. Texas is underserved when it comes to professional beauty distribution and we are excited to do in Texas what we accomplished in Michigan,” states Larry Gaynor, President & CEO, TNG Worldwide.

Texas has approximately 27,000 salons servicing its population of 24 million. Salon Source has store locations in Austin, Dallas, Ft. Worth and Houston. “This is an extremely good fit between companies and I’m excited to continue to grow the Texas marketplace with TNG’s immense resources and dedication to its customers” comments J.D. Wright, Founder of Salon Source, who will stay on as VP of the Texas division.

To accommodate the growth, TNG is opening a new 30,000 sq. ft. distribution center in Coppell, TX, a Dallas suburb. “We will have everything in place for our opening November 1,” states Gaye Wanner, VP Logistics, TNG Worldwide.

In addition to the brands Salon Source sells, TNG will add many of its Michigan brands to the fold. “This is a very exciting time for our employees, our customers and suppliers,” adds Gaynor.

Happy Monday!