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Blo Blow Dry Bar Announces Acquisition Of Mync Beauty Inc.

Oct 12, 2022almost 3 years ago

Acquiring Company

Blo Blow Dry Bar

Acquired Company

MYNC

TorontoBeautyLifestyleFashionE CommerceLifestyleHospitalityFashionE Commerce

Description

Blo Blow Dry Bar, North America’s original blow dry bar, announced today that it has acquired Canadian-owned MYNC Beauty Inc. (MYNC), a premier brow and lash bar with six locations across the GTA. The acquisition paves the way to also announce the introduction of the new MYNC franchise system for entrepreneurs looking to own their own business in the beauty industry. As an industry leader, Blo is also amongst the top five Canadian-founded retail brands operating in the U.S. today when measured by store count.

Company Information

Company

Blo Blow Dry Bar

Location

Toronto, Ontario, Canada

About

Blo Blow Dry Bar is North America’s original blow dry bar and blow dry bar franchise. The company transformed beauty norms and reinvented the salon industry when it launched the “no cuts, no color” concept: only blow outs. Since opening its first location in Canada in 2007, Blo has grown to over 140 locations across the U.S. and Canada and continues to expand rapidly. With a mission to enhance the lives of those in the community through the power of flawless blow outs and beauty services, Blo Blow Dry Bar offers perfectly styled hair and exceptional customer experiences seven days a week.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed