Olaplex Holdings has attracted a potential takeover offer from German consumer goods group Henkel, according to a Reuters report citing Bloomberg News and people familiar with the matter. A deal could materialize within weeks, though no final decision has been made and talks could still fall apart, the report said. Neither Olaplex nor Henkel immediately commented on the discussions.
Henkel, of course, is home to hair care brands such as Schwarzkopf, Syoss, Joico and Kenra.
The takeover interest comes as Olaplex works to stabilize performance amid softer demand, heightened competition and cautious consumer spending. For the nine months ended September 30, 2025, net sales slipped 1.3% year over year to $317.8 million, with U.S. sales down 14.6% and international sales up 7.1%. By channel, specialty retail declined 13.5% to $36.9 million, direct-to-consumer fell 2.9% to $33.3 million, while the professional channel grew 5.3% to $44.5 million.
Profitability has also come under pressure. Adjusted EBITDA for the nine-month period dropped 27.8% to $81 million, down from $112.2 million a year earlier, while SG&A expenses rose sharply as the company leaned more heavily on marketing and promotions. Cash and cash equivalents stood at $286.4 million at the end of the third quarter, down from $586 million at the end of 2024.
Despite the financial headwinds, Olaplex retains relevance with younger consumers. [Cafeteria] data shows that when shopping at Ulta and Sephora, Gen Z shoppers most often choose amika (23% of brand mentions), followed by Olaplex (20%) and OUAI (18%), underscoring the brand’s continued equity among prestige beauty shoppers even as mass-market leaders like TRESemmé and Pantene dominate overall haircare mentions.
For Henkel, which owns a broad portfolio of hair and beauty brands, Olaplex’s strong Gen Z recognition and international growth could complement its existing lineup. For Olaplex, a deal could offer scale, operational support and a new path forward after several years of slowing growth and rising costs.
