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Massage Today
December, 2002, Vol. 02, Issue 12

Stonewater Pursues Day Spa Consolidation

By Editorial Staff

Stonewater, a spa management company based in New Haven, Connecticut, announced recently that it is in the process of acquiring existing day spas and consolidating them under the company's national brand.

The official announcement was made at an October media luncheon during the International Spa Association's (ISPA) National Convention in Anaheim, California.

According to Stonewater founder and CEO Francis Acunzo, the company's goal is to acquire medium-to-large day spas in the top 40 U.S. markets. Acunzo claims that an estimated 1,500 day spas currently meet that criteria:

"The day spa industry is ripe for consolidation. It is a fragmented industry with no major national players to date. As the research indicates, there are a tremendous number of local and regional business owners of successful day spas across the country dominating small geographies, with limited growth outside their respective markets.

"Instead of trying to create a 'one-type-fits-all' spa brand, we saw a tremendous opportunity to acquire existing, successful day spas, integrate signature Stonewater elements, and unify them under one name to create the largest and finest collection of day spas across the country."

With 13 day spas acquired since 1999, Stonewater already ranks as one of the largest spa companies in the United States. The company hopes that number will jump to 20 spas by year's end, with an expected 40-50 day spas bearing the Stonewater brand name by the end of 2003.

Current Stonewater day spas include Spring Spa of Renewal (Greenwich, CT); Sage Spa Club (Watertown, MA and Wellesley, MA); Le Pli (Cambridge, MA); Maximum Image Spa and Salon (Concord, MA); Aruj Salon and Spa (Coconut Grove, FL); Morel European Spa (Fort Lauderdale, FL); Roxsan Day Spa (North Bethesda, MD); Kiva (Chicago, IL); Jolie (Atlanta, GA, Bethesda, MD and Raleigh, NC); and Serenity Day Spa (South River, NJ).

 

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