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Belvedere turns private entity

03
Jul '07
Belvedere USA Corporation announced that it is now a privately held company after completion of a purchase agreement between two senior company managers and parent company Proctor and Gamble.

Horst Ackermann was president of Belvedere USA and Barry Sanders served as vice president of finance and administration for the company when it was a subsidiary of P&G. Their new titles are principal/chief operating officer and principal/president, respectively.

Belvedere is a leading North American manufacturer and marketer of salon and spa furnishings and equipment. The company dates from 1927 and has always been based in Belivdere, Ill.

The structure of the company will not change under the new ownership. Other senior Belvedere managers, including vice president of sales Larry Kane; vice president of sales, Eric Lewine; and director of marketing, Steve Wilcox, will remain with the company.

The company operates manufacturing facilities in Belivdere, Ill., and Mexicali, Mexico. Belvedere design studios are located in New York, Los Angeles, Chicago, Atlanta, Cleveland, Washington DC, Minneapolis, Boston, Florida and Belvidere. Belvedere USA employs 235 people.

"Today marks a new day for Belvedere USA -- its employees, its customers and its brand," said Ackermann. "We believe that Belvedere as an company is now better positioned to serve all segments of the professional hairstylist market and an 80-year tradition of a great American company will be upheld and improved upon."


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