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The Stephan Company

08/15/2022 | Press release | Distributed by Public on 08/15/2022 17:06

The Stephan Co Announces Acquisition of Appleton Barber Supply

SPCO Announces the Acquisition of Appleton Barber Supply

Williamsport, PA, Release: August 15, 2022. For Immediate Release

The Stephan Co. ("SPCO") is pleased to announce the acquisition of Appleton Barber Supply. Appleton Barber Supply sells professional barber supplies through its website at appletonbarbersupply.com.

Appleton Barber Supply, founded in 1926, is one of the oldest barber supply companies in the United States. The SPCO family of barber distribution businesses looks forward to continuing Appletons long tradition of providing its customers with high quality barber products and excellent customer service.

Benjamin Large, CEO of The Stephan Co., commented, We are excited to welcome Appleton Barber Supply to The Stephan Co. We have long admired Appletons place in the barber supply industry and look forward to continuing to service their customers with the same high quality products and customer care they have known for almost a hundred years.

SPCOs acquisition of Appletons business assets was financed with cash on hand as well as a new bank financing. The purchase price for Appletons business was $769,000 and included the purchase of $419,000 of Appletons inventory. No liabilities were assumed in the asset purchase. Appleton generates approximately $1.2M of annual revenue.

SPCO news can be found on the OTC and thestephanco.com/press-and-news/

Founded in 1897, The Stephan Co. is a leader in providing quality professional barber products and exceptional customer service.

www.thestephanco.com
Investor Relations email [email protected]

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This press release may contain forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.