Wella brushes aside Coty entanglement in $1.8bn-equiv TLB


Market Wrap

Wella brushes aside Coty entanglement in $1.8bn-equiv TLB

Laura Thompson's avatar
  1. Laura Thompson
7 min read

Germany-based hair product manufacturer Wella is combing out an €800m euro tranche of its $1.8bn-equivalent refi and recap.

Well-diversified, market leading and with powerful brand recognition, glossy demand for this deal has already seen commitments pushed a day forward and pricing guidance shaved.

Some on the buyside, however, struggle to see the sheen, focusing instead on ongoing carve out risks, heightened by memories of KKR’s bumpy Unilever/Flora disentanglement. Others are cautious given Wella’s limited time as a stand alone company, while details on declining market share and ability to pass costs on must also be combed through.

Read all our public content for free

We won't spam. You can unsubscribe at any time.

What are you waiting for?

Try it out
  • We're trusted by 9 of the top 10 Investment Banks

Cookies & Privacy

We would like to use cookies to improve our service. Is that ok?