The private equity giant KKR has hired bankers to help it lodge a blockbuster $8bn bid for haircare brands including Clairol, GHD and Wella.
Sky News has learnt that KKR, the former - and possibly future - owner of Boots The Chemist, has appointed JPMorgan to work on an offer for the brands ahead of a sale later this year.Nevertheless, its appointment of one of Wall Street's most powerful banks to advise on, and potentially finance, its bid underlines the seriousness of its intentions.
City sources said on Friday that KKR was seeking to repeat its success with other so-called"corporate carve-outs" - most notably its €6.8bn acquisition of Unilever's spreads division in 2017.That deal has already paid dividends for KKR, which has managed to significantly enhance the profitability of the business it bought.
KKR has also been linked with a mammoth buyout of Walgreens Boots Alliance, which if completed would rank as the largest private equity takeover in history.
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