STAMFORD, Conn. Conair Corp. has acquired Allegro Manufacturing, the California-based global supplier of cosmetic bags and other bag-related categories, and plans to use some of its brand names with newly designed Allegro bags to launch more lines and expand existing ones. The acquisition will also open up additional product categories, and increase the domestic and international presence of both companies.
Financial terms of the deal were not disclosed. The management team at Allegro will remain in place.
“Like Conair, we’re driven by a creative, customer-focused approach to business. We share a philosophy that customer input builds better relationships and more salable product lines,” stated Scott Friedman, president of Allegro. “We’re both trend savvy, price-point conscious and smart about what to launch when. Joining Conair is a great opportunity for us to grow at a faster pace than we could have on our own.”
Started in 1973, Allegro manufactures cosmetic and travel organizer bags and continues to expand with electronic accessory bags, diaper bags, bath products, pet accessories and small luggage. The company currently trades in more than 20 countries, with distribution channels in London, Paris, Mexico City, Toronto, and Sydney. Allegro owns and staffs manufacturing plants in China and the Philippines.
Added Ron Diamond, chief executive officer and co-president of Conair. “We’re very excited about this acquisition. Allegro is a great company and we all feel there’s a tremendous synergy between us. This new relationship lets both Conair and Allegro serve our customers better with improved product selection and increased profitability.”
Conair, which began in 1959 as a small hair appliance and hair care company, is a multinational corporation with annual gross sales of $2 billion.