Dive Brief:
- Olaplex Holdings has agreed to be acquired by German-based global conglomerate Henkel for $2.06 per share, or about $1.4 billion, according to a press release.
- The deal is expected to close as early as the second half of 2026, subject to customary closing conditions. It was approved by the Olaplex board of directors as well as Advent International, the majority shareholder of the company.
- Upon completion of the deal, Olaplex will no longer trade on the Nasdaq stock exchange and Advent will relinquish its investment.
Dive Insight:
Olaplex’s deal with Henkel will allow the hair care brand to continue to innovate through advanced technology, expanded capabilities and new product development.
“This step is a testament to the momentum we’ve achieved in our transformation and the significant opportunities ahead for Olaplex to continue shaping the future of hair health and pursue long-term growth,” Olaplex CEO Amanda Baldwin said in a statement. “I’m incredibly proud of what our team has accomplished and look forward to accelerating our product innovation, expanding our reach and continuing to deliver results for our Pro partners and customers around the world as part of the Henkel platform.”
For Henkel — which owns other hair care brands such as Joico, Kenra, and Schwarzkopf — the acquisition is “in line” with its strategy to grow its portfolio through M&A, CEO Carsten Knobel said. “This transaction allows us to expand our presence in premium hair care. The brand creates compelling opportunities for future growth and innovation.”
The deal follows years of financial challenges for Olaplex. The hair care brand filed for an initial public offering amid a wave of IPOs in the retail industry. Just a few years later, Olaplex deemed 2023 a “reset year” for the business as it faced falling sales and profits.
At the same time, the company experienced a number of C-suite changes, including to the CEO, CFO and chief marketing roles.
In the company’s most recent quarter, the brand saw net sales increase 4.3% year over year, with U.S. sales inching up 0.8%. Olaplex’s net loss in the fourth quarter grew nearly 50% to $13.1 million.
