Wella Company, the hair and nail care firm backed by global investment firm KKR, filed for a U.S. initial public offering on Monday, according to Reuters. The move adds to a growing list of consumer companies looking to tap investor interest in public markets, setting the stage for a major listing on the New York Stock Exchange.
Wella IPO Details and Exchange Plans
Wella intends to list its shares on the New York Stock Exchange under the ticker symbol ‘WELA’, as reported by Reuters. Goldman Sachs, BofA Securities, KKR, and J.P. Morgan are serving as underwriters for the offering. Reuters reported earlier this year that the firm had been working with investment banks to prepare for the public debut.
Global Footprint and Brand Portfolio
The beauty and consumer care company boasts a presence in over 100 countries and employs more than 6,000 people, according to Reuters. Wella’s primary offices are located in Geneva, Switzerland, New York City, London, and Calabasas, California, alongside a large research and development facility in Darmstadt, Germany. The company’s portfolio features prominent brands including Wella hair products and OPI nail polish.
KKR Acquisition History and Valuation
Global investment firm KKR initially acquired a 60% stake in Wella from beauty conglomerate Coty in 2020, according to Reuters reporting. The 2020 transaction carved Wella out into a standalone company, valuing the business at $4.3 billion, including debt. That carve-out laid the operational groundwork for the current public offering.
Did you know? Wella’s research and development facility in Darmstadt, Germany, serves as a central hub for product innovation across its massive global hair and nail portfolio spanning over 100 countries.
Frequently Asked Questions
What stock exchange will Wella list on?
According to Reuters, Wella intends to list on the New York Stock Exchange under the symbol ‘WELA’.
Which banks are underwriting the Wella IPO?
Goldman Sachs, BofA Securities, KKR, and J.P. Morgan are among the underwriters for the offering, per Reuters reporting.
Who owns a stake in Wella Company?
Global investment firm KKR acquired a 60% stake in Wella from Coty in 2020 when the brand was carved out into a standalone company, according to Reuters.
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