Yellow Wood Partners‘ portfolio company Parfums de Coeur, a provider of mass-market fragrances and a supplier of specialty bath products in the United States, has acquired Dr. Teal’s Therapeutic Solutions from health and beauty company Advanced Beauty. Terms of the deal were not disclosed.
Yellow Wood Partners, LLC announced today that its portfolio company Parfums de Coeur, Ltd. (PDC), the largest provider of mass-market fragrances and a leading supplier of specialty bath products in the United States, has acquired Dr. Teal’s Therapeutic Solutions from health and beauty company Advanced Beauty, Inc. Terms of the deal were not disclosed.
Dr. Teal’s is a leading brand across multiple personal care categories in food, drug and mass channels including specialty bath, foot care and first aid. In addition to its line of bath and body products, Dr. Teal’s is the largest branded Epsom salt brand in the U.S. and has grown by over 50% annually over the past five years as consumers continue to become more aware of the many benefits of Dr. Teal’s products. The brand’s products are sold in more than 30,000 food, drug and mass retail outlets in the U.S. and through several major retailers in Canada and other countries.
“Dr. Teal’s is a tremendous brand, offering the rare combination of real therapeutic solutions with truly experiential bath and body products that are as delightful to use as they are effective,” said James Stammer, CEO, Parfums de Coeur. “Dr. Teal’s is the perfect complement to Parfums de Coeur’s leading fragrance and specialty bath offerings. We look forward to continue to grow the Dr. Teal’s brand with additional marketing resources to build on the current success of the brand with our broader customer base. This is the second add-on acquisition we have completed since Yellow Wood purchased Parfums de Coeur, which continues to broaden our product line, and it underscores the valuable role Yellow Wood plays in utilizing their deep consumer products industry knowledge and connections.”
“Dr. Teal’s is an ideal add-on investment for Parfums de Coeur, as we believe that the Parfums management team will be able to add even more firepower to an already growing and well positioned brand,” said Dana Schmaltz, from Yellow Wood. “The acquisition fits our strategy of building Parfums into a broader personal care business in many ways. We thank Chris and Cindy McClain of Advanced Beauty and their management team for giving us this exclusive opportunity to buy a brand they have nurtured extremely well.”
Houlihan Lokey served as the exclusive financial advisor and assisted in structuring and negotiating the transaction on behalf of Advanced Beauty. Fried, Frank, Harris, Shriver & Jacobson LLP served as the legal advisor to PDC.
About Yellow Wood Partners
Yellow Wood Partners is a Boston-based private equity firm focused on investing in consumer products brands and companies. The Yellow Wood approach places a greater focus on industry knowledge of the consumer space as well as the firm’s functional operational capabilities in the selection, diligence and management of the firm’s investments. Yellow Wood has also established a more appropriate alignment of interests among all the stakeholders in the firm, including the operating management teams of their portfolio companies, their private equity investors and the Yellow Wood principals. And so, Yellow Wood was created with the motto: “Taking the road less traveled in private equity.”
About Parfums de Coeur, Ltd.
Parfums de Coeur, headquartered in Darien, CT, is a leading mass-market fragrance marketer with an exceptional portfolio of designer-quality perfumes, fragrance body sprays, colognes, and bath products. Since its founding over 33 years ago, the company has pioneered the expansion of the mass fragrance category, consistently offering high quality products to consumers at widely accessible price points. PDC markets and distributes its products under four category-leading national brands: BOD Man®, Body Fantasies®, Designer Imposters® and Calgon®, which was added to the portfolio in December 2012. Parfums has developed long-standing partnerships with the largest food, drug and mass merchandise retailers in the U.S. and over 45 countries internationally.
About Advanced Beauty, Inc.
Founded in 2003, Dallas-based Advanced Beauty’s innovative, spa-quality product lines appeal to women in search of beauty on a budget or an at-home escape. Advanced Beauty products are available at retail, drug, grocery and specialty stores nationwide.