Anthony Newby, the managing member of Newby and the executive director of Reflections, will be retained to help with the continued operation of the salon and provide assistance in the continuing expansion of the salon operations under Nexia's control.
Reflections will be re-branded as a Landis Concept Salon that sells AVEDA products exclusively and follows the AVEDA 12 points of difference.
Mr. Newby has extensive experience and a background in marketing and business development that will provide a strong addition to the salon operations of Nexia.
The Letter of Intent provides that the parties will enter into a definitive agreement and close on the acquisition by July 30, 2007.
This will include working toward completion of a financial review and the preparation of financial statements to meet Nexia's reporting requirements when the acquisition closes.
marketing@alchempro.com
