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Wella, Owner of OPI Nail Polish, Files for US Initial Public Offering
Wella Company, the hair and nail care giant backed by private equity firm KKR, has officially filed for an initial public offering in the United States. The filing on Monday confirms plans for the owner of the OPI and Wella brands to tap public markets, joining a growing list of consumer companies pursuing listings.
Filing Details
The company intends to list its shares on the New York Stock Exchange under the proposed ticker symbol 'WELA'. According to the filing, the lead underwriters for the offering include Goldman Sachs, BofA Securities, KKR, and J.P. Morgan.
The number of shares to be offered and the target price range for the IPO were not disclosed in the initial prospectus, which is standard procedure. The filing signals the company's formal intent to go public, with more financial details expected in subsequent updates.
AdPath to Public Markets
This move toward the public market follows a significant transaction in 2020, when KKR acquired a 60% stake in the business from beauty conglomerate Coty. That deal, which established Wella as a standalone entity, valued the company at $4.3 billion, including debt.
Today, Wella operates as a global enterprise with a presence in over 100 countries and a workforce of more than 6,000 employees. The formal IPO submission confirms earlier reports from Reuters that the company was working with investment banks to prepare for a public listing.
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