Brands That Changed Owners in the Last 90 Days

Q1 2026 Brand Ownership Tracker

Henkel spent $1.4 billion on Olaplex in March 2026. That was its second major hair care acquisition in the same month — it also signed a deal for Not Your Mother's on March 9. Meanwhile, Saks Global filed for Chapter 11, Kraft Heinz shelved its planned company split, and Mars continued integrating $35.9 billion worth of Kellanova brands including Pringles and Cheez-It.

Q1 2026 was not a quiet quarter for brand ownership.

We track every significant consumer brand acquisition, divestiture, bankruptcy filing, and ownership restructuring as it happens. This post covers January 1 through March 20, 2026. Bookmark it alongside our ongoing M&A Roundup series.

For background on how acquisitions work structurally, see our explainer on how brand acquisitions actually work, step by step.

January 2026

Saks Global Files for Bankruptcy (January 2026)

What changed: Saks Global Enterprises, the combined entity formed in 2024 from the merger of Saks Fifth Avenue and Neiman Marcus Group, filed for Chapter 11 bankruptcy protection in January 2026 after missing a $100 million interest payment in December 2025.

Brands affected: Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman

What it means: All three brands continue operating through the bankruptcy process. The company is pursuing a restructuring under which its lender group will take full equity ownership in exchange for eliminating billions in debt. An exit from bankruptcy is expected in summer 2026. The brands themselves are not being sold; the ownership structure around them is being restructured.

Previous owner: Hudson's Bay Company-led investor group (including Amazon equity stake) Expected new owner: Bankruptcy lender consortium (post-restructuring)

Catalyst Brands Begins Operating (January 2025, integration continuing through Q1 2026)

What changed: The merger of SPARC Group and JCPenney, announced in late 2024 and completed in January 2025, created Catalyst Brands. Through Q1 2026, the integration of store operations, supply chains, and marketing functions continued.

Brands affected: JCPenney, Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, Nautica

What it means: These brands are now collectively managed under the Catalyst Brands entity. Authentic Brands Group (ABG) retains underlying IP and licensing rights for the fashion brands. JCPenney serves as both a retail brand and a distribution channel for the other Catalyst brands.

Previous owners: SPARC Group (ABG-backed), and separately Simon Property Group / Brookfield (JCPenney) New owner: Catalyst Brands (ABG-backed combined entity)

February 2026

Kraft Heinz Pauses Separation (February 11, 2026)

What changed: Kraft Heinz, which had announced a plan in September 2025 to split into two independent public companies, formally paused all separation work. New CEO Steve Cahillane cited deteriorating operating performance and a $600 million turnaround investment as the priority.

Brands affected: Kraft, Heinz, Oscar Mayer, Jell-O, Kool-Aid, Philadelphia, HP Sauce, Planters, Capri Sun, and the full Kraft Heinz portfolio

What it means: No brand ownership changes occurred as a result of this pause. The brands remain within the unified Kraft Heinz Company (Nasdaq: KHC). The planned separation into a "Global Taste Elevation" entity and a "North American Meals and Beverages" entity has been deferred with no confirmed new timeline.

Status: Single entity, unchanged. Separation deferred.

Genuine Parts Announces Automotive and Industrial Separation (February 17, 2026)

What changed: Genuine Parts Company (NYSE: GPC) announced a plan to separate its automotive parts distribution business from its industrial parts distribution business into two independent public companies. The tax-free separation is targeted for Q1 2027.

Brands affected: NAPA Auto Parts (automotive division), Motion Industries (industrial division)

What it means: No ownership change has occurred yet. This is a forward-looking announcement. When completed, NAPA Auto Parts will be the flagship brand of an independent NYSE-listed automotive aftermarket company. Motion Industries will operate independently. Both will be distributed to existing GPC shareholders as separate equity holdings.

Timeline: Targeted Q1 2027. Investor days planned for H2 2026.

Abbott Completes Exact Sciences Acquisition (February 2026)

What changed: Abbott Laboratories completed its acquisition of Exact Sciences Corporation for approximately $21 billion.

Brands affected: Cologuard (colorectal cancer screening test), Oncotype DX (breast cancer genomics test)

What it means: Cologuard, the direct-to-consumer colorectal cancer screening brand marketed through television advertising, is now an Abbott brand. Abbott integrates Exact Sciences' diagnostic oncology portfolio into its established diagnostics division.

Previous owner: Exact Sciences Corporation (Nasdaq: EXAS, independent public company) New owner: Abbott Laboratories (NYSE: ABT)

March 2026

Henkel Acquires Not Your Mother's (March 9, 2026)

What changed: Henkel, the German consumer and industrial goods company, signed an agreement to acquire Not Your Mother's, a fast-growing North American hair care and styling brand, for an undisclosed sum.

Brands affected: Not Your Mother's (hair care and styling)

What it means: Not Your Mother's, known for its textured hair, curl care, and styling products widely distributed through mass retailers including Target, Walmart, and Ulta, joins Henkel's consumer beauty portfolio alongside Schwarzkopf, Got2b, Live, and SexyHair. The acquisition extends Henkel's presence in the fast-growing textured and curl care segment of the US hair care market.

Previous owner: Privately held (undisclosed private equity backing) New owner: Henkel AG and Co. KGaA (Frankfurt: HENKEL)

Henkel Acquires Olaplex for $1.4 Billion (March 26, 2026)

What changed: Henkel signed a definitive agreement to acquire Olaplex Holdings, Inc. for $2.06 per share, or approximately $1.4 billion in total enterprise value. The deal, announced March 26, is expected to close in the second half of 2026 subject to regulatory clearance.

Brands affected: Olaplex (prestige hair care and bond-building treatments)

What it means: Olaplex, the prestige bond-building hair treatment brand founded in 2014 and sold primarily through professional salons and specialty beauty retailers, is being acquired from its majority shareholder Advent International. Olaplex had gone public in September 2021 at a valuation exceeding $14 billion but saw its market value collapse following ingredient controversy in 2022 and 2023, making the $1.4 billion acquisition price a fraction of its IPO-era valuation.

The deal gives Henkel an entry into professional prestige hair care to complement its existing portfolio of mass and professional brands. Olaplex joins Not Your Mother's (also being acquired by Henkel) as part of an ambitious 2026 hair care push. The combined Henkel hair care portfolio, including Schwarzkopf, will span mass retail through professional prestige channels.

Previous owner: Advent International (majority shareholder, public company Nasdaq: OLPX) New owner (pending closing): Henkel AG and Co. KGaA (Frankfurt: HENKEL)

Mars Kellanova Integration Continues (Ongoing, completed March 2025)

What changed: Mars Incorporated completed its $35.9 billion acquisition of Kellanova in early 2025. The integration of Kellanova's brands into Mars's snacking portfolio has continued through Q1 2026.

Brands now under Mars: Pringles, Cheez-It, Pop-Tarts, MorningStar Farms, RXBAR, Keebler, Eggo waffles were spun off to WK Kellogg Co. (NYSE: KLG) separately. The Mars acquisition covered the snacking brands, not the North American cereal business.

What it means: Pringles and Cheez-It, previously Kellanova's largest brands by revenue, are now Mars Snacking brands. Mars is the world's largest confectionery and snacking company as a result of the deal, combining M&Ms, Snickers, Twix, Milky Way, Skittles, and Starburst with Pringles and Cheez-It.

Mars remains a private, family-owned company and does not disclose detailed financials. The full integration of Kellanova brands into Mars's operational structure is expected to complete by the end of 2026.

Previous owner: Kellanova Company (NYSE: K, previously Kellogg Company) New owner: Mars Incorporated (privately held)

Nordstrom Privatisation Integration (Completed March 2025, ongoing)

What changed: Nordstrom's $6.25 billion going-private transaction, completed in March 2025, has been in its first year of private operation through Q1 2026. Fortune reported in March 2026 that the privatisation has been broadly positive for operational flexibility and brand strategy.

Brands affected: Nordstrom, Nordstrom Rack

What it means: Both retail brands continue under the Nordstrom family's ownership, operating independently of public market reporting requirements. The company benefited from Saks Global's difficulties as luxury brands and high-income shoppers redirected business toward Nordstrom through early 2026.

New ownership: Nordstrom family and El Puerto de Liverpool (private)

Overview: Notable Patterns in Q1 2026

Looking across the deals of the first quarter, four patterns stand out:

Henkel is building a hair care empire. Two acquisitions in March — Not Your Mother's on March 9 and Olaplex for $1.4 billion on March 26 — are not coincidental. Henkel already operates Schwarzkopf Professional and a range of mass-market hair brands. Adding textured hair care (Not Your Mother's) and prestige bond repair (Olaplex) fills two specific gaps in a strategy to challenge L'Oréal Professional across price tiers.

American department stores are in structural crisis. The Saks Global bankruptcy is not an isolated event. It is the most visible result of a debt-financed luxury retail consolidation strategy that failed under declining foot traffic and rising interest rates. Placer.ai data showed Saks Fifth Avenue visits down 5.7% for all of 2025. The ownership restructuring reflects the financial mathematics of that operational reality.

Kraft Heinz's strategic retreat is a warning sign for food conglomerates. The company announced a separation in September 2025 and paused it by February 2026. That five-month reversal shows how quickly deteriorating operating performance can override strategic conviction in large food portfolios. Private label competition, ingredient cost inflation, and changing consumer preferences are real structural pressures — not temporary headwinds.

Industrial spinoffs are following the consumer playbook. Genuine Parts' announcement to separate NAPA Auto Parts from Motion Industries follows the same logic as J&J/Kenvue and Kellogg/Kellanova: focused companies attract better valuations than mixed conglomerates. Honeywell, 3M, and GE all executed versions of this strategy before Genuine Parts.

Deals Pending Regulatory Review (as of March 20, 2026)

FAQ

Why do brand ownership changes matter to consumers? Ownership changes affect how a brand is managed, invested in, and distributed. A brand acquired by a well-capitalised buyer with relevant expertise often sees improved product development, broader distribution, and stronger marketing. A brand acquired in a leveraged buyout may face cost-cutting that affects product quality or innovation investment. A brand trapped in a bankruptcy restructuring faces uncertainty about future investment. Understanding who owns a brand provides context for understanding how it will evolve.

How do I find out who owns a brand? Use WhoBrands.com to search any brand name for the full ownership chain, parent company profile, and historical context. Our methodology tracks ownership through public filings, press releases, and verified corporate disclosures. For brands that have recently changed hands, this quarterly update series provides the most current tracking.

What happens to gift cards and loyalty points when a retailer goes bankrupt? Gift card and loyalty programme treatment in bankruptcy varies case by case and is determined by the bankruptcy court as part of the restructuring plan. In some cases, gift cards and points are honoured in full; in others, they are treated as unsecured creditor claims and receive cents on the dollar. For Saks Global's current bankruptcy, the treatment of existing gift cards and SaksFirst loyalty points will be determined as part of the Chapter 11 plan of reorganisation expected in the coming months.

Is Olaplex still independent? As of March 20, 2026, Olaplex is still publicly traded on the Nasdaq under ticker OLPX. The acquisition by Henkel was announced on March 26, 2026 and remains subject to regulatory clearance, expected in H2 2026. Until the deal closes, Olaplex continues to operate as an independent public company. The announcement of the acquisition agreement caused Olaplex's share price to trade close to the $2.06 acquisition price.

What brands did Mars gain through the Kellanova acquisition? Mars gained Pringles, Cheez-It, Pop-Tarts, MorningStar Farms (vegetarian and vegan food brand), RXBAR (protein bar brand), and Keebler (cookie brand) through its acquisition of Kellanova. The Eggo waffle brand and North American cereal brands (including Special K, Frosted Flakes in North America) were not part of the Kellanova acquisition; they were retained by WK Kellogg Co., which had been spun off from Kellogg Company before the Mars deal.

Related Reading

• Spinoff Watch: Brands Breaking Away in 2026
• Brand Ownership Changes: Retail Edition 2026
• Biggest Brand Deals of Q1 2026
• How Brand Acquisitions Actually Work
• How Private Equity Flips Brands for Profit
• 20 Brands Owned by Private Equity Right Now

Sources

1. Henkel Press Release: Olaplex Acquisition, March 26, 2026 -- https://www.henkel.com/press-and-media/press-releases-and-kits/2026-03-26-henkel-to-acquire-premium-hair-care-brand-olaplex-2136290 2. Olaplex Investor Relations: Acquisition Announcement -- https://ir.olaplex.com/news/detail/67/olaplex-a-leading-science-led-prestige-hair-care-brand 3. Henkel Press Release: Not Your Mother's Acquisition, March 9, 2026 -- https://www.henkel.com/press-and-media/press-releases-and-kits/2026-03-09-henkel-to-acquire-fast-growing-consumer-hair-care-and-styling-brand-not-your-mothers-in-the-us-2131642 4. Reuters: Kraft Heinz Pauses Split -- https://www.reuters.com/business/kraft-heinz-pauses-work-related-separation-2026-02-11/ 5. Mars Press Release: Kellanova Acquisition Completion -- https://www.mars.com/news-and-stories/press-releases-statements/mars-completes-acquisition-of-kellanova 6. Genuine Parts Company Press Release, February 17, 2026 -- https://www.genpt.com/2026-02-17-Genuine-Parts-Company-Announces-Plan-to-Separate-Automotive-and-Industrial-Businesses-Into-Two-Industry-Leading-Public-Companies 7. Fox Business: Saks Global Bankruptcy -- https://www.foxbusiness.com/markets/saks-global-expects-exit-bankruptcy-summer-after-receiving-500m-financing 8. Fortune: Nordstrom Going Private Turnaround -- https://fortune.com/2026/03/16/nordstrom-wall-street-department-stores-turnaround/ 9. CNBC: Retail Dive Olaplex Henkel Deal -- https://www.cnbc.com/2026/03/26/olaplex-acquired-henkel.html

All brand ownership data verified through WhoBrands.com research methodology. Last updated: March 2026.