Henkel to Buy Hair-Care Brand Olaplex in $1.4 Billion Deal (2)

Henkel AG has agreed buy Olaplex Holdings Inc., the hair-care brand that developed a cult following for its shampoos and other treatments, in a $1.4 billion deal.

Dusseldorf, Germany-based Henkel will pay $2.06 a share for Olaplex, according to a statement Thursday that confirmed earlier Bloomberg News reporting.

Shares of Olaplex surged 50% to $2 at the open of trading in New York. Henkel’s stock was little changed in Frankfurt.

Olaplex, which counts private equity firm Advent as its largest shareholder, was among a class of companies that went public in 2021 at peak valuations in the wake ...