The beauty deals keep coming and they aren’t just limited to the retail sector. Today, American International Industries, a manufacturer and worldwide distributor of beauty products, announced it has acquired Spilo Worldwide Inc.
Founded in 1942, Spilo serves the professional beauty products industry. Terms of the deal were not disclosed, but the purchase encompasses the entire Spilo portfolio including ColorMode, Master Barber, Mehaz Professional, Rubis of Switzerland and ToolWorx.
Zvi Ryzman, president of A.I.I., said Spilo is a company he has admired during his five decades in the industry. “We are committed to the development of the Spilo family of brands and will provide the support needed to grow them. We are confident combining these two organizations will strengthen the market position and growth of the brands while also expanding our position as a leader in the professional beauty industry,” he said in a statement.
A.I.I. has a proven track record of expanding businesses it purchases. Most of the 65 brands under the company’s umbrella were brought in through acquisitions. The company’s most recent purchases were Model in a Bottle, Hollywood Fashion Secrets and Jerome Russell.
A powerhouse in the professional business, the company is also boosting its stakes in retail beauty with