Sally Beauty Holdings purchases Sinelco Group

Denton, Texas Beauty supplies retailer and distributor Sally Beauty Holdings on Thursday said it purchased beauty products distributor Sinelco Group NV for approximately 25.5 million euros ($37.1 million) in cash, expanding its overseas presence.

Sinelco, based in Belgium, serves more than 1,500 customers in 35 countries through a product catalog, Web site and sales offices in Belgium, France and Italy.

Sally Beauty said it anticipates the deal will add to its earnings and speed up its international growth strategy.