TAGS: Hair Care
Advent International has announced that it has agreed to acquire Olaplex, a professional hair care brand. Financial details of the transaction were not disclosed. Advent and Olaplex will seek to accelerate the company’s growth by investing in innovative product development and global brand awareness.
Olaplex Offers Solution to Protect Hair
Olaplex is a go-to brand for both stylists and consumers. It offers a combination of products exclusive to salons and products available through both the professional and retail channels.
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Damaged hair is a universal problem. Having grown up in the beauty business, I was inspired to disrupt the hair care industry by developing a technology that protects hair from damage,” said Dean Christal, owner, Olaplex.
To Develop Innovative Products
With Advent’s shared vision and deep experience in supporting high-growth businesses, Olaplex look forwards to enhancing company’s strong customer loyalty globally and across channels and realizing the ambitious growth plan.
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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,” commented Tricia Glynn, managing director, Advent.
Advent has significant investment experience in the retail, consumer and leisure industry globally. In the past 29 years, the firm has invested more than USD 11 billion in over 75 companies across subsectors such as beauty and personal care, differentiated brands, growth-oriented food and beverage, and fast-casual and quick-service restaurants.
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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,” said Glynn.
Financo served as exclusive financial advisor to Olaplex on the transaction, and Goldman Sachs & Co. LLC served as exclusive financial advisor to Advent International.
Source: Advent International