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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Seoul, [Date] — Blackstone, the world’s largest private equity firm, announced on September 2 that it has signed a definitive agreement to acquire JUNO Hair, South Korea’s largest hair salon franchise, in a deal valued at several hundred billion won. Industry sources estimate the acquisition price at up to KRW 800 billion (approx. USD 600 million).
This marks the first time a major salon franchise has been acquired in South Korea, despite global private equity firms frequently investing in the country’s booming K-beauty cosmetics and beauty device industries.
JUNO Hair, founded in 1982, operates more than 180 salons nationwide with over 3,000 highly skilled stylists. The company also manages affiliates such as JUNO Beauty, JUNO Depot, and JUNO Academy. Group-wide annual revenue stands at approximately KRW 300 billion, with EBITDA estimated at around KRW 37 billion.
Founder and CEO Yoon-Sun Kang will continue to lead the company post-acquisition. Blackstone highlighted JUNO Hair’s strong brand, extensive stylist network, and growth potential in the global beauty and wellness market as the main drivers for the investment.
The deal values JUNO Hair at over 20 times its EBITDA, an unusually high multiple for a service-based company. Analysts note that strong K-beauty demand globally, coupled with JUNO Hair’s ownership of prime real estate in Seoul’s Cheongdam and Seongsu districts, contributed to the premium valuation.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
