Drybar of Blowout Fame is Bought for $255 Million
Tami Abdollah is dot.LA's senior technology reporter. She was previously a national security and cybersecurity reporter for The Associated Press in Washington, D.C. She's been a reporter for the AP in Los Angeles, the Los Angeles Times and for L.A.'s NPR affiliate KPCC. Abdollah spent nearly a year in Iraq as a U.S. government contractor. A native Angeleno, she's traveled the world on $5 a day, taught trad climbing safety classes and is an avid mountaineer. Follow her on Twitter.
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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