The recent acquisition is intended to boost the company’s growth by investing in innovative products and by increasing brand awareness.
An important and exemplary acquisition in the American Beauty industry is now a reality. Advent International, one of the largest and most experienced global private equity investors, has acquired Olaplex, a prestigious professional hair-care brand. The financial details of the transaction were not disclosed.
Olaplex is a revolutionary brand that pioneered a new category of hair care called “bond-building,” the process of protecting, strengthening and rebuilding broken bonds in the hair during and after hair services. Their “secret” is an active, patented ingredient that works on a molecular level to protect and repair hair from damage.
Olaplex was founded in 2014 by beauty industry veterans Dean and Darcy Christal. It quickly became a global sensation as a consequence of the remarkable hair repair capabilities. The brand earned the trust and devotion of a loyal community of hairstylists. In a few years, Olaplex becomes one of the largest independent hair care brands in the world, selling through both the professional and consumer channels.
Olapex is ranked as one of the highest engagement hair care brands on social media platforms, therefore well appreciated by both stylists and consumers.
Commenting on the acquisition, Dean Christal said: “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. 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 realizing our ambitious growth plan.”
Tricia Glynn, a Managing Director at Advent, said, “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. We believe the company has a significant runway for growth by increasing its brand awareness globally, broadening its product line of innovative hero’s products and further developing its ability to speak and sell to consumers directly.”
“I’m proud of the success Olaplex has achieved to date,” said Tiffany Walden, Chief Operating Officer of Olaplex. “We are excited to work with Advent to build on our foundation and continue to provide our customers with the highest quality products.”
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. Their investments are focused on retail, consumer and leisure industry. In the past 29 years, the firm has invested more than $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.
The firm has investments in 41 countries, and as of June 30, 2019, it had $54 billion in assets under management. Their globally integrated team of over 200 investment professionals is spread in 15 offices in 12 countries across North America, Europe, Latin America, and Asia.