Redken Sells Land to Builder for $1.25 Million

Redken Laboratories said it has sold for $1.25 million a 17-acre parcel of land in the Agoura Hills area where it once considered moving its headquarters.

The sale to developer Larry Kaltman will result in a $1.1 million pretax gain for Redken, a Canoga Park maker of hair-care products, in the third quarter ended April 30. Chairman John E. Meehan said the company bought the land around 1970.