Blackstone is in advanced discussions to acquire Juno Hair, South Korea’s largest premium salon group, in a transaction valued at $590m.

According to sources cited by KED Global, the deal would mark one of the largest buyouts in Korea’s fragmented beauty services sector.

The proposed acquisition would see Blackstone purchase the full stake currently held by founder and CEO Kang Yun-seon and affiliated parties. However, discussions are ongoing regarding whether Kang will retain a minority interest or remain involved in management post-transaction.

Juno Hair operates more than 180 salons and employs over 3,000 staff. It reported revenues of approximately 300bn won and EBITDA of 37bn won last year. The deal implies a valuation exceeding 20x EBITDA — a rare premium in Korea’s salon franchise space — reflecting Blackstone’s belief in the brand’s scalability beyond its home market.

Founded in 1982, Juno Hair has become a household name through its direct ownership model, in-house stylist training academy, and premium brand positioning. These features have helped the company maintain consistency in service quality and establish a loyal customer base.

Blackstone reportedly views the acquisition as a launchpad for global expansion. Juno currently operates salons in the Philippines and Singapore, with plans to expand into Southeast Asia, the Middle East, and North America. The firm’s flagship branch in Seoul’s Myeongdong district already draws a significant international clientele.

If finalised, this deal would follow Blackstone’s broader strategy of backing high-potential Korean mid-market companies with strong cross-border appeal. The private equity giant took a similar approach with its acquisition of cutting tool manufacturer JJTools.

KPMG Samjong Accounting is managing the transaction process. Neither Blackstone nor Juno Hair has officially commented on the negotiations.

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