European Wax Center Inc. saw its shares surge following the announcement that General Atlantic has entered into a definitive agreement to take the company private in an all-cash transaction valued at approximately $330 million.
Under the terms set forth in the agreement, General Atlantic will purchase all outstanding shares of Class A common stock that it does not already hold. Shareholders will receive $5.80 in cash for each Class A share, equal to a 45% premium to the company's closing price on February 9, 2026, and a 51% premium to the 90-day volume-weighted average price of its shares.
General Atlantic currently owns roughly 42% of European Wax Center's outstanding common stock and has been a partner to the company since its initial investment in 2018, according to the terms disclosed. The proposed transaction was unanimously recommended by a Special Committee of the company's Board of Directors, a panel composed solely of independent directors.
The agreement remains subject to customary closing conditions. Specifically, the deal requires approval by a majority of votes cast by shareholders who are not affiliated with General Atlantic, as well as any necessary regulatory consents. If those conditions are satisfied, the transaction is expected to close in mid-2026.
Once completed, European Wax Center will convert from a publicly traded company to a privately-held company and its Class A common stock will no longer be listed on public exchanges.
European Wax Center positions itself as a leading franchisor and operator of out-of-home waxing services in the United States. The company's locations perform more than 23 million services annually, a figure cited in the transaction disclosure.
Contextual notes:
- The deal price of $5.80 per share and the related premium calculations were provided by the parties in the announcement.
- The timeline projects a mid-2026 close, contingent on shareholder and regulatory approvals.
- The Special Committee's unanimous approval indicates the board-level recommendation in favor of the transaction.
This coverage reports the terms and conditions disclosed by the company and the acquiring investor. Any change to those terms or to the required approvals could affect the timing or completion of the transaction.