Advent Explores Options for Hair Care-Brand Olaplex
(Bloomberg) -- Private equity firm Advent International is exploring options including a sale for its hair-care asset Olaplex, according to people with knowledge of the matter.
Advent is targeting a valuation of at least $1.5 billion for the business, one of the people said, asking not to be identified discussing private information. The buyout firm could also opt to take Olaplex public through an initial public offering, the people said.
A final decision on Olaplex hasn’t been made and Advent could still decide to keep it.
A representative for Advent declined to comment.
Consumer and retail companies are seeing valuations jump as the coronavirus pandemic subsides in the U.S. The valuations in the public equity market have sometimes proved to be higher than what strategic players were willing to pay, dealmakers said.
Founded in 2014, the shampoo and conditioner maker was bought by Advent in late 2019, according to a statement at the time that didn’t disclose deal terms.
The company named JuE Wong as chief executive officer, according to a statement in January 2020. Wong had been CEO of Moroccanoil, the skin and hair-care brand.
©2021 Bloomberg L.P.