THE WHAT? CVC Capital Partners is exploring a potential sale of personal care platform Arthea, owner of brands including Dr. Teal’s and Cantu, in a deal that could value the business at around US$2 billion.
THE DETAILS CVC is reportedly working with investment banks Moelis and William Blair on a potential sale, although discussions remain at an early stage. Formerly known as PDC Brands, Arthea owns Dr. Teal’s, Bodycology, Body Fantasies, BOD Man and textured hair care brand Cantu, with products distributed in more than 80 countries. CVC acquired the business from Yellow Wood Partners for US$1.43 billion in 2017. The company rebranded as Arthea in August and recently announced Sunryz, a new body care brand targeting tweens.
THE WHY? A potential transaction would add to a busy period of M&A across beauty and personal care and provide another test of investor appetite for scaled, internationally distributed consumer brands, particularly across bath, body and hair care.
Source: Reuters
