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Benzinga
Benzinga
Business
Shivani Kumaresan

Olaplex Makes Strategic Investment In Arcaea

Olaplex Chanel
  • Olaplex Holdings Inc (NASDAQ:OLPX) has made a strategic investment in the beauty company, Arcaea, during the third quarter of 2021. The financial terms were not disclosed.
  • Arcaea will grow new ingredients and product experiences for beauty by leveraging technology, such as DNA sequencing, biological engineering, and fermentation.
  • Arcaea has raised $78 million in Series A funding from a consortium of strategic and financial investors, including Cascade Investment L.L.C., Viking Global, Olaplex, Chanel, Givaudan, and Wittington Ventures. 
  • Price Action: OLPX shares traded higher by 1.42% at $19.98 on the last check Friday.
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