By Jorge Mercado Friday, March 27th, 2026

Olaplex Holdings, a New York-based hair care products company with Santa Barbara roots, has been sold for $1.4 billion, agreeing to be acquired by Henkel AG & Co., a leading global manufacturer of well-known consumer and industrial brands.

The deal, announced on March 26, states that Olaplex will be purchased for $2.06 per share in a cash transaction, representing an equity value of approximately $1.4 billion. The sale price represents a premium of approximately 55% over Olaplex’s closing stock price on March 24 and a premium of approximately 45% over the volume-weighted average price of Olaplex’s shares for the 30 trading days ended March 25.

Olaplex was founded in Montecito in 2014 by Dean and Darcy Christal. The technology for the company’s hair care products was developed by UCSB chemistry professor Craig Hawker and his former graduate student, Eric Pressly.

Olaplex’s staff had always been fully remote even before the Covid-19 pandemic, so it never had a physical headquarters. Its address on SEC filings had always been on Coast Village Road in Montecito. That changed after Olaplex hired new CEO Amanda Baldwin, a longtime industry executive who was most recently the CEO of skincare and sunscreen brand Supergoop, who took over in 2024.

Regarding the acquisition, 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 fueled by innovation and a deep commitment to stylists and consumers.” 

“This step is a testament to the momentum we’ve achieved in our transformation and the significant opportunities ahead for Olaplex to continue shaping the future of hair health and pursue long-term growth,” she said. 

“I’m incredibly proud of what our team has accomplished and 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 first went public in 2021, opening at a price per share of $21, generating almost $1.6 billion in its IPO. The company’s market capitalization was nearly $15.9 billion at the end of the trading day, making it the fourth-largest publicly traded firm in the tri-county region, according to previous Business Times reporting.

Shares began seriously declining in 2022, however, due to a slew of problems, from slowing growth, tough competition, and brand damage from lawsuits claiming Olaplex products contain ingredients that could potentially form a carcinogen. Olaplex has continually and vehemently denied all allegations.

Regardless, shares declined, slipping to as low as $1.02 a share in 2025. Shares closed at $2.01 on March 26 after the news, a 51% gain and the highest close for the company’s stock since December 2024.

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