M&A · Industrials · Perfumes, Cosmetics & Other Toilet Preparations
Henkel US Operations Corporation to acquire Olaplex Holdings, Inc.
Announced Mar 26, 2026 · Closed Jul 7, 2026
Deal value$1.40BEV $1.43B
Premium55.0%To unaffected price
EV / Adj. EBITDA—3.4x EV / Revenue
ConsiderationAll cash$2.06 per share
Transaction
- Acquirer
- Henkel US Operations Corporation
- Target
- Olaplex Holdings, Inc. (OLPX)
- Buyer type
- Strategic
- Offer price per share
- $2.06
- Enterprise value
- $1.43B
- Status
- Closed Jul 7, 2026
Deal protections
- Break fee (target pays)
- $40.4M · 2.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- JPMorgan
- JPMorgan fee
- $25.0M
Sector context · Industrials
- Comparable deals
- 96 in the prior 24 months
- Premium
- 55.0% vs. 34.0% sector median
- EV / Adj. EBITDA
- Sector median 11.0x
- Break fee
- 2.9% vs. 2.6% sector median
Timeline
- AnnouncedMar 26, 2026
- Proxy filedApr 24, 2026
- Definitive proxyMay 4, 2026
- Shareholder vote—
- ClosedJul 7, 2026
Valuation · fairness opinions
Trading comparables$1.35$1.75
Precedent transactions$1.55$2.75
Discounted cash flow$1.75$2.20
Discounted cash flow$1.65$2.10
Offer $2.06
Implied value per Olaplex Holdings, Inc. share by analysis, from JPMorgan · DCF discount rate 9.5%–10.5%.