Helen of Troy, the hair appliance makers behind Revlon and Bed Head, has acquired Drybar for US$255m.
Founded in 2010, the US brand first specialised in branded blow dry bars, before expanding into hair care products in 2013.
Inspired by the cocktail bar industry, the names of Drybar services include Cosmo, Mai Tai and Manhattan. The stylists are called ‘bartenders’.
As part of the cash deal, Helen of Troy now owns the worldwide license to Drybar.
“The acquisition aligns very well with our strategic goal of investing in businesses that can accelerate profitable growth in categories where we can add value and leverage our scalable operating platform,” said Julien Mininberg, CEO of Helen of Troy.
“We see excellent upside potential for growth in the product line-up, continued retail momentum and door expansion with key customers, and the expected expansion of the Drybar salon footprint both in the US and internationally.
“We believe we can add further value through Helen of Troy’s shared services, larger infrastructure, and international footprint and create value for consumers, customers and our shareholders.”
