Franchiser WellBiz Brands has acquired the rights to the license for the Drybar chain of blowout salons.

WHO: The Drybar blowout salon, founded by Alli Webb in 2010, is an industry disruptor based on the simple concept of focusing on one thing and being the best at it—blowouts. Drybar Holdings operates 141 shops throughout the United States and Canada. The Drybar products business was acquired by Helen of Troy in December 2019.

WellBiz Brands, Inc. is the nation’s premier franchisor of beauty, wellness, and fitness brands. With more than 750 locations, WellBiz Brands is uniquely qualified to serve the growing needs of the affluent female consumer through recurring revenue, experience-based brands. WellBiz builds the capabilities of emerging consumer brands and enables them to accelerate scalable and predictable growth. The company’s multi-brand platform provides access to a robust platform of shared services, infrastructure, and support. For the last three years the company has claimed three spots on the Inc. 5000 list.

WHY: According to reporting by Forbes, WellBiz has had its eye on Drybar for some time as a perfect fit for its portfolio, but didn’t start acquisition talks until late last year.

IN THEIR OWN WORDS: “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 Chief Executive Officer 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 has a passionate and loyal customer base and franchise system. 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,” stated Drybar Holdings LLC Chief Executive Officer Liz Williams.

“I started Drybar because I wanted to create a beautiful place where women could get a great blowout at an affordable price. 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,” said Alli Webb, founder of Drybar.

DETAILS:

• Franchiser WellBiz Brands has acquired the rights to the license for the Drybar chain of blowout salons. The financial details of the transaction were not disclosed.
• Drybar Holdings LLC remains a separate entity, will switch from being the franchisor to the largest franchisee, and will continue operating 87 locations. The plan going forward will be for Drybar Holdings to gradually sell off stores to new franchise owners.
• In December 2019 Helen of Troy acquired Drybar Products, the business that sells the haircare merchandise produced by the chain of blowdry salons. The deal also included Drybar intellectual property assets and some production assets and working capital.
• WellBiz Brands has assumed the license to use the Drybar trademark from Helen of Troy Limited. Drybar remains a registered trademark of Helen of Troy Limited.
• With this latest transaction, WellBiz Brands owns the license to all DryBar physical locations. Helen of Troy still owns and distributes the product line.
• Piper Sandler & Co served as financial advisor to Drybar Holdings, with Latham Watkins and Cheng Cohen serving as legal counsel in connection with this transaction. Polsinelli represented WellBiz Brands as legal counsel.