Olaplex, the hair brand best known for its bond-building hair repair line, is selling to Advent International, a private equity firm.
Olaplex was founded in 2014 by Dean and Darcy Christal, who commercialized a hair product that helps repair and protect hair from damage caused by heat styling or coloring. It has inspired a new category of hair-care products, which have in turn inspired a handful of lawsuits.
Terms of the deal were not disclosed.
The founders are hoping the private equity investment will help them grow the business.
"Olaplex has differentiated itself by offering superior products backed by patents. It is rare that we see brands of this size growing so rapidly and with such a passionate consumer base," said Tricia Glynn, managing director at Advent. "We believe the company has significant runway for growth by increasing its brand awareness globally, broadening its product line of innovative 'hero' products and further developing its ability to speak and sell to consumers directly."
Financo advised Olaplex on the deal. WWD reported Olaplex was exploring deal options in April.
Source: Read Full Article
Olaplex Sells to Advent International
