Acquisitions

9 Months Ended

Jun. 30, 2013

Acquisitions

Acquisitions

13. Acquisitions

On May 31, 2013, the Company acquired certain assets and business operations of Essential Salon Products, Inc., a professional-only distributor of beauty products operating in the northeastern region of the United States, for approximately $15.7 million, subject to certain adjustments. The assets acquired and liabilities assumed, including intangible assets subject to amortization of $9.1 million, were recorded based on their preliminary estimated fair values at the acquisition date. In addition, goodwill of $3.2 million (which is expected to be deductible for tax purposes) was recorded as a result of this acquisition. The final valuation of the assets acquired and liabilities assumed will be completed within twelve months from the acquisition date. We funded this acquisition with cash from operations and with borrowings under our ABL facility.