CVC Capital Partners has agreed to acquire beauty care company PDC Brands from Yellow Wood Partners. The deal comes shortly after CVC closed its seventh fund. The PE firm is making the acquisition out of Fund VI.

PDC is a Stamford, Connecticut-based seller of bath, hair and cosmetic products. The company owns the Dr Teal's, Cantu, Elegant Touch and Salonsyetm brands that are sold in over 100 thousand retailers in more than 60 countries. Yellow Wood invested in the target in 2014.

"As part of CVC, we will have access to increased financial, marketing, and operational resources where we will continue to do very well," says PDC CEO James Stammer. Financial terms of the deal were not disclosed.

Founded in 1981, CVC is a private equity and investment firm based in London. The PE firm has raised more than $65 billion in capital commitments since its inception and has completed over 300 investments. The firm expects to close the acquisition of luxury watch brand Breitling by the end of June.

In other beauty related deals, in 2016, Revlon Inc. (NYSE: REV) acquired Elizabeth Arden. In that same year, L'Oreal bought IT cosmetics.

Nomura, Perella Weinberg acted nd White & Case are advising CVC. William Blair and Jefferies Fried Frank are advising PDC.

PDC Brands

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.
Demitri Diakantonis

Demitri Diakantonis

Demitri Diakantonis joined SourceMedia in 2015 and serves as Managing Editor of Mergers & Acquisitions. He covers all aspects of middle-market deamaking, with a focus on strategic buyers and the consumer and retail sectors, and writes The Buyside column.