Reuters, citing people familiar with the matter, reported that global private equity investment giant CVC Capital Partners (hereinafter referred to as CVC) is considering a sale of its personal care platform Arthea, which owns bath and body care brand Dr. Teal's and others, in a deal valued at approximately $2 billion.
The sources said CVC is working with investment banks Moelis and William Blair to advance the sale, but the relevant negotiations are still at an early stage.
Arthea, formerly known as PDC Brands (full name: Parfums de Coeur Brands), was founded in 1981 and owns several category-leading brands spanning health care, hair care, beauty and cosmetics, fragrance, and bath and body care, such as bath and body care brands Dr. Teal's and Bodycology, fragrance brands Body Fantasies and BOD Man, and hair care brand Cantu, which targets naturally curly hair, among others.
According to Arthea's official website, the company's annual retail sales exceed $1 billion, and its products reach more than 95 million consumers in over 80 countries worldwide.
In 2017, CVC acquired PDC from private equity fund Yellow Wood Partners for $1.425 billion.
In August this year, the company officially changed its name to Arthea, derived from the words "art" and "healing," and simultaneously launched a new body care brand for teenagers, Sunryz.
｜Source: Reuters, official press release
｜Image source: brand official website
｜Editor: LuxeCO
