The private equity firm, which already maintains a 42% stake in the company, will acquire the remaining shares for $5.80 per share. Following the disclosure, European Wax Center's stock surged 43% to reach $5.73 during Tuesday trading, nearly converging with the buyout offer price.
In section Market Quotes
General Atlantic to Take European Wax Center Private in $330M Deal
European Wax Center shares skyrocketed Tuesday after the company announced an agreement to be taken private by its largest shareholder, General Atlantic. The all-cash transaction values the waxing services provider at approximately $330 million.
Premium Valuation and Strategic Shift
According to the company, the purchase price reflects a 45% premium over Monday’s closing price and a 51% premium over the 90-day volume-weighted average share price. The move effectively transitions the brand back to private ownership after its 2021 market debut.The deal underscores General Atlantic's long-term commitment to the brand's franchise-heavy business model. European Wax Center currently operates a significant footprint across the United States, specializing in proprietary wax products and specialized grooming services. The acquisition remains subject to standard closing conditions and regulatory oversight.
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