Julie & Holleman Investigates EWCZ Acquisition
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Should l Buy EWCZ?
Source: Globenewswire
- Acquisition Investigation: Julie & Holleman LLP is investigating General Atlantic's proposed $330 million acquisition of European Wax Center (EWCZ), asserting that the $5.80 per share offer undervalues the company and may harm shareholder interests.
- Conflict of Interest Uncovered: The firm has identified potential conflicts of interest, as General Atlantic already owns 40% of EWCZ and has placed multiple representatives on its board, which could compromise the fairness of the transaction.
- Optimistic Company Outlook: Despite the acquisition challenges, EWCZ made significant progress in 2025, with Chairman and CEO Chris Morris expressing “tremendous optimism” about the company’s future, indicating its market potential.
- Potential Legal Claims: Julie & Holleman plans to pursue legal claims based on the apparent unfairness of the deal, highlighting that key insiders will remain with the company while public shareholders may be cashed out at a price below the company's true value.
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Analyst Views on EWCZ
Wall Street analysts forecast EWCZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EWCZ is 5.00 USD with a low forecast of 4.00 USD and a high forecast of 6.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
1 Buy
1 Hold
1 Sell
Hold
Current: 4.000
Low
4.00
Averages
5.00
High
6.00
Current: 4.000
Low
4.00
Averages
5.00
High
6.00
About EWCZ
European Wax Center, Inc. is a franchisor and operator of out-of-home (OOH) waxing services in the United States. The Company offers guests hygienic waxing services administered by its licensed, EWC-trained estheticians (its wax specialists). Its technology-enabled guest interface simplifies and streamlines the guest experience with automated appointment scheduling and remote check-in capabilities across its network of centers. It provides a comprehensive assortment of body and facial waxing services using its Comfort Wax formulation, which features a blend of natural beeswax combined with other skin-soothing ingredients for the most comfortable waxing experience. It also provides a line of proprietary pre- and post-service products, including ingrown hair serums, exfoliating gels, brow shapers and skin treatments, which ensure the full benefits of the waxing experience are realized by its guests. The Company’s network includes more than 1,000 centers in 44 states.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- European Wax Center Merger: European Wax Center will be acquired by General Atlantic for $5.80 per share, implying an equity value of approximately $330 million, with investigations examining whether the Board ensured fair value for shareholders, potentially impacting shareholder interests.
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- Acquisition Investigation: Julie & Holleman LLP is investigating General Atlantic's proposed $330 million acquisition of European Wax Center (EWCZ), asserting that the $5.80 per share offer undervalues the company and may harm shareholder interests.
- Conflict of Interest Uncovered: The firm has identified potential conflicts of interest, as General Atlantic already owns 40% of EWCZ and has placed multiple representatives on its board, which could compromise the fairness of the transaction.
- Optimistic Company Outlook: Despite the acquisition challenges, EWCZ made significant progress in 2025, with Chairman and CEO Chris Morris expressing “tremendous optimism” about the company’s future, indicating its market potential.
- Potential Legal Claims: Julie & Holleman plans to pursue legal claims based on the apparent unfairness of the deal, highlighting that key insiders will remain with the company while public shareholders may be cashed out at a price below the company's true value.
See More
- Acquisition Investigation: Julie & Holleman LLP is investigating General Atlantic's proposed $330 million acquisition of European Wax Center (NASDAQ:EWCZ), asserting that the $5.80 per share offer undervalues the company and may harm shareholder interests.
- Conflict of Interest: The firm has uncovered potential conflicts of interest, as General Atlantic already owns 40% of the company and has placed multiple representatives on its board, which could compromise the fairness of the acquisition.
- Potential Legal Claims: Julie & Holleman plans to pursue legal claims based on the apparent unfairness of the deal, aiming to protect public shareholders and ensure they receive a fair transaction price.
- Optimistic Company Outlook: Despite the acquisition challenges, European Wax Center made significant progress in 2025, with Chairman and CEO Chris Morris expressing “tremendous optimism” about the company's future, indicating its market potential.
See More
- Acquisition Agreement: European Wax Center (EWCZ) has reached a definitive agreement with General Atlantic for an all-cash transaction valued at approximately $330 million, marking a significant shift in the company's market position and expected to enhance operational efficiency and competitiveness.
- Shareholder Value Increase: General Atlantic will acquire all remaining Class A shares at $5.80 per share, representing a 45% premium over the closing stock price on February 9, 2026, indicating strong confidence in the company's future growth potential.
- Board Approval: The transaction has been unanimously approved by both the independent special committee and the company's board of directors, reflecting management's positive outlook on the acquisition and its potential to deliver substantial returns to shareholders.
- Privatization Process: Following the completion of the transaction, European Wax Center will be delisted and operate as a privately held company, a shift that may provide the company with greater flexibility in strategic decision-making and further drive its long-term growth objectives.
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- Significant Price Momentum: European Wax Center (EWCZ) has seen a 5.8% price increase over the past four weeks, indicating growing investor interest and enhancing its attractiveness in the market.
- Long-Term Return Potential: The stock has gained 4.6% over the last 12 weeks, reflecting not only its ability to handle short-term price fluctuations but also its potential for long-term investment, making it suitable for investors seeking stable returns.
- High Volatility Characteristics: With a beta of 1.45, EWCZ's stock price moves 45% more than the market, providing a quick profit opportunity for investors with a higher risk tolerance.
- Valuation Advantage: EWCZ's price-to-sales ratio stands at 0.99, meaning investors pay only 99 cents for every dollar of sales, demonstrating that the stock retains good investment value while experiencing rapid growth.
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- Center Closures: European Wax Center closed 20 centers in fiscal 2025, below the previous forecast of 23 to 28 closures, reflecting progress in strategic development initiatives and adjustments to optimize operational efficiency.
- Sales Outlook Adjustment: The company raised its fiscal 2025 system-wide sales outlook to $945 million to $948 million, slightly above the previous range of $940 million to $950 million, indicating stability in market demand and business resilience.
- Financial Metrics Update: Adjusted EBITDA is now projected at $72 million to $74 million, an increase from the prior estimate of $69 million to $71 million, demonstrating improvements in cost control and profitability.
- Future Outlook: Management will share further updates at the 2026 ICR Conference, emphasizing the company's focus on enhancing marketing and operational capabilities to navigate the evolving macro environment and drive long-term performance growth.
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