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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 and Hot Tools product lines.

Drybar products are sold by a number of retailers such as Nordstrom, Ulta and Sephora, with the business expected to generate revenue of between $64 million and $66 million in 2019.

Richard Collings is Adweek's retail reporter.