According to Yahoo! Finance, Advent International, one of the largest and most experienced global private equity investors, recently announced it will acquire Olaplex, a professional, prestige and well-known hair care brand.
Established in 2014 by beauty industry experts and veterans, Dean and Darcy Christal, Olaplex quickly became a global sensation after it commercialised a revolutionary, patented technology that helped protect and repair the hair from damage. Once word of its power spread globally amongst hair stylists, it led the way to an entirely new category of hair care called “bond-building.”
This, along with the brand’s enormous support from its loyal stylist and advocate base, has helped Olaplex become one of the world’s largest independent hair care brands. Popular with both stylists and consumers, it also offers a mix of products that are available through professional and retail channels, as well as ones that are exclusive to salons.
“Damaged hair is a universal problem,” Dean Christal said. “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. With Advent’s shared vision and deep experience in supporting high-growth businesses, we look forward to enhancing our company’s strong customer loyalty globally and across channels and realising our ambitious growth plan.”
Advent has a strong history of investment experience in the retail, consumer and leisure industry globally. Over the past 29 years, it has invested over US$11 billion in more than 75 companies across subsectors such as beauty, personal care and more.
Financial details of the transaction between Advent and Olaplex were not disclosed.