General

Helen of Troy to Acquire Drybar for $255 Million

Consumer group's portfolio already includes OXO, Braun and Hot Tools

Giant yellow blow dryer in front of a drybar store — Drybar will continue to operate its blowout salons under a licensing deal.Drybar

Helen of Troy, a consumer products conglomerate, is acquiring prestige hair care brand Drybar for $255 million in cash, the company announced this morning.

The purchase includes Drybar’s trademark and other intellectual property associated with the brand’s products, as well as related production assets and working capital.

As part of the deal, Helen of Troy will grant a global license to Drybar Holdings, a separate company, to continue to operate blowout salons under the Drybar banner.

The acquisition is expected to close by the end of January, and gives Helen of Troy more exposure to a higher-end consumer while complementing the company’s existing Revlon