Recently, according to report, US private equity firm Blackstone is actively negotiating a significant acquisition in South Korea’s personal care sector, targeting Juno Hair, the nation’s largest upscale salon chain. Valued at approximately 800 billion won (US$590 million), this potential deal would encompass Juno Hair Group’s extensive operations, comprising over 180 directly managed salons and employing more than 3,000 professionals.
Last year, Juno Hair reported revenues of 300 billion won, with an EBITDA of 37 billion won. The proposed valuation, reflecting a multiple exceeding 20 times EBITDA, marks a notably high figure within Korea’s salon industry. The acquisition discussions involve Blackstone acquiring the holdings of founder and CEO Kang Yun-seon and associated entities. The specifics of Kang’s future involvement, including the possibility of retaining a minority stake or operational role, remain undetermined.
The transaction process is being overseen by Samjong KPMG and is expected to represent one of the largest buyouts in Korea’s fragmented personal care services market. Juno Hair distinguishes itself through a centralized training model and rigorous operational control, ensuring consistent service quality across its locations—a notable achievement in the salon franchise industry.
Moreover, Juno Hair has initiated limited international expansion efforts, establishing footholds in markets such as the Philippines and Singapore. Notably, its Myeongdong flagship in Seoul enjoys substantial patronage from foreign tourists. Blackstone aims to leverage Juno Hair’s established brand and operational model to accelerate international growth opportunities.
If successfully completed, this acquisition by Blackstone would underscore its strategic interest in expanding its footprint within South Korea’s dynamic personal care industry, capitalizing on Juno Hair’s strong market presence and growth potential both domestically and abroad.
