Henkel is set to buy Olaplex for US$1.4bn to expand its “presence in premium hair care”.
The German consumer goods giant has entered into a definitive agreement with the premium bond-building hair care brand, with the deal set to close as soon as the second half of 2026.
On completion of the transaction, Olaplex will no longer be listed on Nasdaq, and controlling shareholder Advent International will fully exit its investment in the company at close.
The acquisition is described as “another important milestone in Henkel’s purposeful growth agenda” and said to enhance its existing hair care portfolio, which includes Schwarzkopf, got2b and LIVE.
Henkel also recently acquired hair care brand Not Your Mother’s to secure a stronger foothold in the North American beauty market.
“The planned acquisition of Olaplex is fully in line with Henkel’s strategy to expand its portfolio through compelling, value-adding M&A activities,” said Henkel CEO Carsten Knobel.
“This transaction allows us to expand our presence in premium hair care.
“The brand creates compelling opportunities for future growth and innovation.”
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Olaplex has struggled lately amid growing competition in the science-focused hair and scalp care market.
Last year, it launched its ‘Bonds and Beyond’ strategy to get the business back on track, focused on three pillars – generating brand demand, harnessing innovation and executing with excellence.
Commenting on the acquisition news, Olaplex CEO Amanda Baldwin said: “Today marks an exciting next chapter for Olaplex.
“From our roots in the professional community to becoming one of the most trusted science-led brands in hair treatment, our journey has always been fuelled by innovation, and a deep commitment to stylists and consumers.
“This step is a testament to the momentum we have achieved in our transformation and the significant opportunities ahead for Olaplex to continue shaping the future of hair health and pursue long-term growth.
“I… 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.”
Olaplex is a premium bond-building hair care brand
What are the terms of Henkel’s deal to buy Olaplex?
Henkel has agreed to buy Olaplex for $2.06 per share in a cash transaction, representing an equity value of approximately $1.4bn, and which represents a premium of approximately 55% over Olaplex’s closing stock price on 25 March 2026.
Plus, representing a premium of approximately 45% over the volume weighted average price (VWAP) of Olaplex’s shares for the 30 trading days ended 25 March 2026.
The transaction has been unanimously approved by Olaplex’s board of directors, and Advent International has entered into a written consent, undertaking to approve the transaction.
The transaction is expected to combine each company’s “highly complementary strengths in the professional channel”, where both have “meaningful relationships” with the salon community.
The deal is also said to “unlock new avenues for innovation” through advanced technology, expanded capabilities and accelerated product development.
Plus, bring together Olaplex’s broad North American direct-to-consumer (D2C) and specialty retail presence with Henkel’s international footprint, leading to expanded international reach.
"Olaplex is a perfect strategic fit for our premium hair care business,” said Wolfgang König, Executive VP responsible for Henkel’s Consumer Brands business.
“Its strong scientific foundation, guided by professionals, combined with a robust presence across premium channels makes it highly complementary to our existing portfolio.
“And we see meaningful opportunities to accelerate innovation.”
The deal is subject to regulatory approvals and other customary closing conditions.
J.P. Morgan Securities LLC is acting as Financial Advisor to Olaplex, and Ropes & Gray LLP is serving as legal counsel to the company.
John Bilbrey, Executive Chair of Olaplex’s Board of Directors, commented: “Olaplex’s growth reflects the strength of its science-led approach, its brand and the dedication of its team.
“We are proud to have supported Amanda and the entire Olaplex team as they drove brand momentum, scaled innovation and advanced significant operational transformation.
“We look forward to the opportunities ahead under Henkel’s stewardship.”
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