CVC Capital Partners has agreed to acquire PDC Brands, a provider of beauty and personal care products. The seller is Yellow Wood Partners. No financial terms were disclosed. Nomura and Perella Weinberg provided financial advice to CVC on the transaction while William Blair and Jefferies did likewise for PDC.
San Francisco, CA, June 1, 2017 — CVC Capital Partners (“CVC”) today announced that funds advised by CVC have agreed to acquire PDC Brands (“PDC”) from Yellow Wood Partners. The financial terms of the transaction were not disclosed.
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.
Cameron Breitner, Partner at CVC, said: “We are excited about this rare opportunity to acquire a rapidly growing, multinational consumer products platform with a strong portfolio of brands and a proven management team. We greatly look forward to working with James Stammer and his team as they extend their exceptional track record of acquiring and expanding consumer brands.”
James Stammer, CEO of PDC Brands, said: “We are thrilled to enter into this new chapter with CVC Capital Partners. We have significantly grown and diversified our portfolio in recent years, and we know that CVC will be able to support our future growth ambitions in both the US and abroad by leveraging their deep sector experience and global resources.”
Nishad Chande, Managing Director at CVC, added: “We are very pleased to have this opportunity to extend CVC’s strong track record in the consumer sector. Aligning with management teams to support their continued domestic and international growth is one of CVC’s core strengths, and we look forward to building upon the platform that management and Yellow Wood have so successfully developed.”
Closing of the transaction is subject to approval by the relevant competition authorities and is expected in June 2017. The transaction will be completed by CVC Fund VI. Nomura and Perella Weinberg acted as financial advisors and White & Case acted as legal advisor to CVC. William Blair and Jefferies served as financial advisors and Fried Frank served as legal counsel to PDC.
About CVC Capital Partners
CVC Capital Partners is a leading private equity and investment advisory firm. Founded in 1981, CVC today has a network of 23 offices and approximately 400 employees throughout Europe, Asia and the U.S. To date, CVC has secured commitments of over $107 billion from some of the world’s leading institutional investors across its private equity and credit strategies. In total, CVC currently manages over $65 billion of assets. Today, funds managed or advised by CVC are invested in 50 companies worldwide, employing c.310,000 people in numerous countries. Together, these companies have combined annual sales of over $70 billion. For further information about CVC please visit: www.cvc.com
About PDC Brands
Founded in 1981, PDC Brands has emerged as one of the world’s fastest growing beauty and wellness companies in the world. PDC Brands’ portfolio of category-leading brands includes Cantu®, Dr Teal’s®, Eylure®, and Body Fantasies®. PDC Brands’ portfolio of products can be found at major mass, chain drug, grocery and specialty retailers throughout the US, UK and in over 60 markets globally. For more information, please visit: www.pdcbeauty.com.
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. The firm is led by a seasoned group of professionals with expertise developed over multiple economic cycles. Their complementary marketing, sales, finance, operations, and international sales skills help form strong partnerships with current and future portfolio companies to build strong growing brands and maximize operational performance. For more information, please visit: www.yellowwoodpartners.com.