Drybar of Blowout Fame is Bought for $255 Million
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Drybar Products LLC, was acquired last week for roughly $255 million in cash by El Paso, Texas-based Helen of Troy Limited, a designer, developer and worldwide marketer of consumer brand-name housewares, health and beauty products.
The Irvine, Calif.-based company provides hair care and styling services, among other products, at its blowout salons. Helen of Troy granted Drybar a worldwide license to use the Drybar trademark in their continued operations of salons.
Helen of Troy's CEO Julien Mininberg said in a statement that the acquisition "adds a highly-respected and fast-growing prestige brand to our beauty business" and "aligns very well with our strategic goal of investing in businesses that can accelerate profitable growth in categories where we can add value and leverage our scalable operating platform."
Mininberg also noted that she expects the Drybar salon's footprint to expand further, both in the U.S. and internationally.
Drybar did not respond to a request for comment.
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