CVC Capital Partners has completed its previously announced acquisition of PDC Brands, a provider of beauty and personal care products. The seller was Yellow Wood Partners. The purchase price was $1.425 billion.
BOSTON, July 5, 2017 /PRNewswire/ — Yellow Wood Partners, a leading private equity firm focused on investing in consumer brands and companies, today announced that it has completed the sale of PDC Brands, a rapidly growing provider of beauty, personal care, and wellness brands, for $1.425 billion to CVC Capital Partners.
Founded in 1981, PDC is a rapidly growing beauty and personal care products company with a portfolio of category-leading brands across wellness, hair care, beauty & cosmetics, fragrance, and bath & body care. PDC’s portfolio of products can be found at major retailers throughout the US, UK and in 60 additional markets globally. The Company’s brands include Dr. Teal’s, the #1 Adult Bath Care brand in the U.S; Cantu®, the fastest-growing Multi-Cultural Hair Care brand in the U.S.; Body Fantasies® and BOD Man®, America’s #1 Men’s and #1 Women’s Fine Fragrance brands in the mass-market, and; Eylure, the #1 Cosmetic Eyelash brand in the U.K.
Dana Schmaltz, Founding Partner of Yellow Wood Partners, said, “Over the past five years of our partnership with PDC, the Company has successfully grown into a multinational consumer products company providing unique and innovative beauty and personal care products marketed to the most attractive segments of the global consumer base. It has been a privilege partnering with James Stammer and the senior management team, as our combined efforts led to PDC quadrupling revenues while increasing EBITDA by more than five times under our ownership. This growth was driven by a combination of exceptional organic growth and five add-on acquisitions, all of which were sourced on an exclusive basis, that greatly broadened the Company’s portfolio of brands. We will miss working with our good friends at PDC and wish them continued success on their growth trajectory. Our focus at Yellow Wood going forward will be to continue to identify similar companies that can benefit from our operational expertise to build a portfolio of strong companies that will create exceptional value for our investors.”
About Yellow Wood Partners
Yellow Wood Partners is a Boston-based private investment firm that invests exclusively in the consumer industry in the lower middle market. The firm seeks to acquire branded consumer products across a variety of channels including mass, drug, food, specialty, club and e-commerce and utilizes the firm’s functional operating resources to help maximize brand performance. Yellow Wood combines investment expertise with complementary operating experience in marketing, sales, finance, operations, and international to form successful partnerships with its portfolio companies. For more information, please visit www.yellowwoodpartners.com.