Yellow Wood Partners has acquired Parfums de Coeur, the largest provider of mass-market fragrances in the US.
PDC markets and distributes its products under three category-leading national brands – Body Fantasies, Designer Imposters, and BOD Man – through long-standing relationships with the largest food, drug and mass merchandise retailers in the US. In addition, the company’s brands are sold in a growing number of international markets.
Yellow Wood is acquiring PDC in partnership with the company’s management team, who are also investing equity into the business.
“We are pleased and excited to invest in PDC to support its continued domestic and international growth,” says Peter Mann, a Yellow Wood founding partner and the new chairman of Parfums de Coeur. “The company’s experienced and committed management team will be a huge asset as PDC continues to expand and innovate. We look forward to working with them. Parfums de Coeur is precisely the kind of company that Yellow Wood was created to help. The company’s strong brands, unique positioning, deep retail distribution and dedication to quality are what we look for in successful and growing consumer businesses. Moreover, our experienced Yellow Wood operating team will enhance and complement PDC’s exceptional management talent.”
“Since its founding over 30 years ago, PDC has pioneered the expansion of the mass fragrance category, consistently offering the highest quality products to its consumers at widely accessible price points,” says Dana Schmaltz, a Yellow Wood founding partner. “The company’s success has been led by its strong track record of developing unique and innovative products, supported by differentiated marketing and strong retail relationships. We are excited to partner with management to help accelerate their growth vision into new opportunities, both domestically and overseas. Just as important, we are eager to work with management to identify complementary add-on brands or businesses to further expand the company’s footprint.”
Houlihan Lokey acted as exclusive financial adviser to Parfums de Coeur in the transaction. Seward & Kissel served as legal counsel for the company. Fried Frank served as legal counsel for Yellow Wood.
