Olaplex to Henkel

HHP/Pers Care/Mar 2026/JPMorgan

Deal Information

Target

Olaplex

Acquiror

Henkel

Sector

HHP/Pers Care

Target Type

Public

Acquiror Type

Strategic

Advisors

JPMorgan

Enterprise Value

$1.5B

EV / LTM Sales

3.5x

EV / LTM EBITDA

15.9x

EV / Fwd EBITDA

Comparable transactions cited by the advisor, excluding the subject transaction.

FV/LTM EBITDA selected range: 12.0x - 21.0x

9 comps


Jun 2016	Elizabeth Arden, Inc.	Revlon, Inc.	-	-	34.3x	-
May 2019	Avon Products, Inc.	Natura & Co Holding S.A.	-	-	9.5x	-
Dec 2019	Drybar Products LLC	Helen of Troy Limited	-	-	13.0x	-
Jun 2020	Coty Inc.'s Professional and Retail Hair business, including the Wella, Clairol, OPI and ghd brands	Kohlberg Kravis Roberts & Co. L.P.	-	-	12.3x	-
Nov 2021	Obagi Global Holdings Limited	Waldencast Acquisition Corp.	-	-	17.2x	-
Apr 2022	Recipe Products Ltd.	Helen of Troy Limited	-	-	10.0x	-
Aug 2023	Naturium LLC	e.l.f. Beauty, Inc.	-	-	21.0x	-
May 2025	Touchland Holding Corp	Church & Dwight Co., Inc.	-	-	12.7x	-
Nov 2025	Kenvue Inc.	Kimberly-Clark Corporation	-	-	14.3x	-
	Mean			-	16.0x	-
	Median			-	13.0x	-

Discount rate and terminal value assumptions the advisor selected for its discounted cash flow analysis.

Advisor	WACC	Terminal method	Terminal assumption	Forecast basis	Forecast period	Filing
JPMorgan	9.5% – 10.5%	Perpetuity growth	2.0% – 3.0%	Company Forecast	fiscal years 2026 through 2030	Open