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Mergers & Acquisitions

Advent to buy Olaplex hair care expert

by Marc S. Reisch
November 23, 2019 | A version of this story appeared in Volume 97, Issue 46
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Advent International has agreed to buy Olaplex, a start-up firm that popularized hair-protection chemistry developed by University of California, Santa Barbara, chemists Craig Hawker and Eric Pressly. Neither party revealed financial details. The news comes hard on the heels of a British appeals court ruling confirming a 2018 court decision that L’Oréal had violated an Olaplex hair-treatment patent. In August, Olaplex won a $91 million judgment against L’Oréal when a US jury found it guilty of stealing the smaller firm’s trade secrets. L’Oreal says it is appealing both cases.

Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society

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