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Hair Care Company with Santa Barbara Roots Sells for $1.4B
Olaplex Holdings, founded in Montecito, agrees to be acquired by Henkel AG & Co.
Mar. 27, 2026 at 2:23pm
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Olaplex Holdings, a New York-based hair care products company with roots in Santa Barbara, has been sold for $1.4 billion. The company, founded in Montecito in 2014, agreed to be acquired by Henkel AG & Co., a leading global manufacturer of consumer and industrial brands.
Why it matters
The sale of Olaplex, which went public in 2021, represents a significant milestone for a company that grew from a Santa Barbara-based startup to a major player in the hair care industry. The acquisition by Henkel provides an opportunity for Olaplex to expand its reach and continue innovating under a larger global platform.
The details
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 is a premium of 55% over Olaplex's closing stock price on March 24 and a 45% premium over the 30-day volume-weighted average price. Olaplex was founded in Montecito in 2014 by Dean and Darcy Christal, with the technology for its products developed by a UCSB chemistry professor and his former graduate student.
- Olaplex first went public in 2021, opening at a price per share of $21.
- Olaplex's shares began seriously declining in 2022 due to a slew of problems, including slowing growth, tough competition, and brand damage from lawsuits.
- Olaplex shares closed at $2.01 on March 26, 2026, after the acquisition announcement, a 51% gain and the highest close since December 2024.
The players
Olaplex Holdings
A New York-based hair care products company with roots in Santa Barbara, founded in Montecito in 2014.
Henkel AG & Co.
A leading global manufacturer of well-known consumer and industrial brands, which is acquiring Olaplex Holdings.
Dean and Darcy Christal
The founders of Olaplex Holdings.
Craig Hawker
A UCSB chemistry professor who developed the technology for Olaplex's hair care products.
Eric Pressly
A former graduate student of Craig Hawker who also helped develop the technology for Olaplex's hair care products.
What they’re saying
“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.”
— Amanda Baldwin, CEO of Olaplex
“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.”
— Amanda Baldwin, CEO of Olaplex
The takeaway
The sale of Olaplex Holdings, a hair care company with Santa Barbara roots, to global consumer brand giant Henkel AG & Co. for $1.4 billion highlights the growth potential and innovation that can emerge from regional startup hubs like Santa Barbara, even in highly competitive industries.
