Olaplex Completes First Acquisition Buying Boston Biotech Purvala

Olaplex Holdings, a leading haircare company known for its bond-building technology, has made its first-ever acquisition by purchasing Boston-based biotech firm Purvala Bioscience. Founded in 2020 by Drs. Bradley Olsen and Justin Paloni, Purvala specializes in developing bioinspired molecules modeled after natural biological structures, aiming to innovate in the health and beauty sectors. Olaplex CEO Amanda Baldwin emphasized that this acquisition aligns with the company’s long-standing commitment to scientific innovation and product excellence, aiming to create a new generation of disruptive, science-backed beauty solutions alongside Olaplex's patented Bis-amino technology. Dr. Olsen, who is also a Professor of Chemical Engineering at MIT, brings significant expertise to the collaboration. The acquisition's financial terms were not disclosed, but it represents a strategic move for Olaplex to enhance its product portfolio and continue influencing the haircare industry. This development comes amid a broader trend of increased mergers and acquisitions in the beauty sector.