Exclusive-KKR prepares OPI owner Wella Company for US IPO, sources say

Private equity firm KKR is actively preparing Wella Company, a leading haircare and beauty products manufacturer, for an initial public offering (IPO) in the United States, according to sources familiar with the matter. The move comes as KKR seeks to capitalize on the strong performance of the beauty and personal care sector, which has seen significant growth in recent years. Wella Company, known for its popular brands such as Wella Professionals and Nioxin, has been under KKR's ownership since 2015 when the firm acquired it from Procter & Gamble for approximately $3 billion. The IPO is expected to take place in the latter half of 2024, subject to market conditions. This strategic decision aligns with KKR's broader investment strategy to unlock value from its portfolio companies through public market listings. The IPO could value Wella Company at several billion dollars, providing KKR with a substantial return on its investment. Industry analysts suggest that the beauty and personal care market's resilience and growth potential make it an attractive sector for investors, further supporting the timing of the IPO.