PARIS – Henkel AG has agreed to buy premium hair care brand Olaplex in a deal valued at $1.4 billion.

The German multinational chemical and consumer goods company said Thursday the offer price is at $2.06 per share.

The transaction was unanimously approved by Olaplex’s board and Advent International, the brand’s largest shareholder.

“This acquisition marks another important milestone in Henkel’s purposeful growth agenda and further expands hair care as a core category within its Consumer Brands business,” Henkel wrote in a press release.

In fiscal year 2025, Olaplex made sales of about 370 million euros, which are split between the U.S., its home market, and abroad. The brand also posted strong gross margin.

“The planned acquisition of Olaplex is fully in line with Henkel’s strategy to expand its portfolio through compelling, value-adding M&A activities,” Carsten Knobel, Henkel chief executive officer, said in the statement. “This transaction allows us to expand our presence in premium hair care. The brand creates compelling opportunities for future growth and innovation.”

“Olaplex is a perfect strategic fit for our premium hair care business,” continued Wolfgang König, executive vice president responsible for Henkel’s Consumer Brands business. “Its strong scientific foundation, guided by professionals, combined with a robust presence across premium channels makes it highly complementary to our existing portfolio, and we see meaningful opportunities to accelerate innovation.”

In early January, speculation swirled that Henkel had proposed a takeover offer for Olaplex.

Due to market-share losses and weak organic growth, Olaplex’s stock has declined more than 90 percent since the group went public in September 2021 on the Nasdaq.