The beauty and wellness parent company has expanded its portfolio with this latest acquisition.
WellBiz Brands, Inc., the parent company of wellness and beauty franchises like Amazing Lash Studio, Elements Massage, and Fitness Together, has announced the acquisition of haircare-focused franchise concept Drybar.
The acquisition of Drybar will add all 141 Drybar stores to WellBiz Brands’ franchise portfolio, bringing its total brand network to more than 750 U.S. locations. Drybar Holdings LLC will continue to operate 87 Drybar shops, acting as Drybar’s largest franchisee.
“I’m thrilled to welcome Drybar shops into the WellBiz Brands’ franchise platform. At WellBiz Brands, we are focused on building best in class services that women love, and Drybar fits that mission perfectly,” said WellBiz Brands CEO, Jeremy Morgan. “Drybar is truly a category creator, with remarkable customer loyalty. I’m excited to support the brand’s trajectory by leveraging our expertise in franchising and personal care services. With the momentum already behind this brand, I have no doubt that we’ll be able to scale quickly and connect with more franchise partners.”
Drybar was founded in 2010 by Alli Webb, and specializes in blowouts – a hair treatment service that gives guests voluminous and glossy hair.
“I started Drybar because I wanted to create a beautiful place where woman could get a great blowout at an affordable price,” said Alli Webb. “At Drybar, it’s all about the experience and the way we make people feel. We aren’t just selling blowouts, it’s the happiness and confidence that come from amazing hair. I am excited to have a new partner, WellBiz, that understands and is committed to that vision.”
Piper Sandler & Co served as the financial advisor to Drybar Holdings during this acquisition, with Polsinelli representing WellBiz Brands as legal counsel.
“Drybar has a passionate and loyal customer base and franchise system,” said Liz Williams, CEO of Drybar Holdings LLC. “Joining the WellBiz platform is a huge testament to the strength of Drybar shops. The synergy and scale of Wellbiz will help take Drybar to the next phase of growth.”
