Helen of Troy × Drybar Acquisition

Helen of Troy is a designer, developer and worldwide marketer of consumer brand-name housewares, health, home, and beauty products. On January 23, 2020, the company announced acquisition of Drybar Products LLC, for approximately $255 million in cash. The Drybar blowout salon concept was founded by Alli Webb in 2008. The products business, which includes shampoos, conditioners, tools, and styling products, started after Drybar blowout salons took off. At the time of acquisition, the business had over 140 blowout salons in the US and Canada while the product range was sold in outlets such as Sephora, Ulta, Nordstrom and Macys. The acquisition didnt include the salon business, however, as part of the transaction, Helen of Troy granted a worldwide license to Drybar Holdings LLC, the part of the business that operates the blowout salons, to use the Drybar trademark and continue running and expanding those outposts.