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| Company type | Subsidiary |
|---|---|
| Industry | Consumer goods |
| Founded | 1880 |
| Founders | Franz Ströher |
| Headquarters | Darmstadt, Germany |
Area served | Worldwide |
| Products | Hair care |
| Owner | |
| Website | www |
Wella AG is a German company specializing in hair care, styling, colorants, and other beauty products, and was founded in 1880 in Germany by Franz Ströher. Its headquartered in Darmstadt, Germany. The company was controlled by Procter & Gamble from 2003 until it was sold to Coty in 2015 along with some 40 other P&G brands.[1] On December 1, 2020, Coty completed the sale of the Wella, Clairol, OPI and ghd brands stake to American private equity firm KKR for $2.5bn in cash whilst retaining 40% stake in the standalone company.[2]
On October 1, 2021, Coty announced that it would sell an approximate 9% stake to KKR for $426.5 million. The deal reduces Coty's stake in the Wella, Clairol, OPI and ghd brands to around 30.6%.[3]
On November 8, 2021, Coty agreed to sell an approximate 4.7% stake in Wella to KKR in exchange for the redemption of approximately 56% of KKR's remaining convertible preferred shares in Coty. The deal reduces Coty's stake in Wella, Clairol, OPI and ghd to approximately 25.9%. KKR will continue to have a 2.4% ownership stake in Coty on an as-converted basis.[4]
On July 18, 2023, Coty agreed to sell an approximate 3.6% stake in Wella to investment firm IGF Wealth Management for US$150 million. Coty will retain a 22.3% stake in Wella with an implied valuation of approximately $900 million.[5]
- ^ P&G confirms names of all 43 brands sold to Coty (article date July 13, 2016)
- ^ "Coty Completes Sale Of Wella Stake To KKR". Coty.com.
- ^ "Coty to sell 9% stake in Wella to majority owner KKR". reuters.com. October 2021.
- ^ "Coty To Sell Additional Stake In Wella To KKR In Deal Valued At Approx. $215.7 Mln". nasdaq.com.
- ^ "Coty Agrees to Sell $150M of Its Retained Wella Stake". Coty Investor Relations.