Yellow Wood Partners acquires Parfums de Coeur
BOSTON —Yellow Wood Partners has acquired mass market fragrance provider Parfums de Coeur, whose brands include Body Fantasies, Designer Imposters and BOD Man.
Yellow Wood is acquiring PDC in partnership with the company’s management team, who also are investing equity into the business. Financial terms of the deal were not disclosed.
“We are pleased and excited to invest in PDC to support its continued domestic and international growth,” said 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,” added 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.”
“The Yellow Wood team recognizes the quality products, systems and people that make Parfums de Coeur the leading player in its categories,” Parfums de Coeur CEO James Stammer said. “We are extremely impressed with Peter and Dana and grateful for their support and confidence. The strong operating resources Yellow Wood brings will further enable us to grow our brand platform, while continuing to provide both our consumers and retail partners with the quality and excellence they have come to expect from Parfums de Couer.”
Rite Aid comps increase 0.4% in August
CAMP HILL, Pa. — Rite Aid posted a 0.4% increase in same-store sales for the month of August, the retail pharmacy operator said Wednesday.
The increase included a 2.4% increase in front-end comps and a 0.6% decrease in pharmacy comps. Total store sales for the five-week period that ended Saturday were roughly $2.41 billion, a 0.4% decrease from last year’s $2.414 billion. Same-store prescription count increased by 4.5%.
"RAD’s August comps were stronger than expected, both in pharmacy and at the frontend, which we believe bodes well for Q2 EBITDA," Guggenheim Partners analyst John Heinbockel wrote in response to the results, noting that pharmacy comps exceeded Guggenheim’s forecast by 140 basis points, while front-end comps exceeded its forecast by 2%.
For the 13 weeks that ended Saturday, comps were flat, compared with the same period last year, including a 1.4% increase in front-end comps and a 0.7% decrease in pharmacy comps. Total store sales decreased 0.7%, to $6.21 billion, compared with $6.25 billion last year. Same-store prescription count increased by 4%.
For the 26-week period ended Saturday, comps increased by 1.2%, including a 2% increase in front-end comps and a 0.8% increase in pharmacy comps. Total store sales increased by 0.5%, to $12.646 billion, compared with $12.581 billion last year. Same-store prescription count increased by 3.5%.
Tecate Michelada makes U.S. debut
NEW YORK — Heineken USA has launched its Tecate Michelada beverage in the United States.
Tecate Michelada follows the same traditional brewing process of Tecate to the master brewer’s exact specifications, the company said. The beer then is carefully blended with the taste of lime, spices and a hint of chili pepper to create a bold flavored beer mix with a deep golden color. Tecate Michelada can be enjoyed cold, straight from the can or poured over ice, into a traditional goblet-style glass with a salted rim.
"Beer mixes are growing in popularity among Mexican consumers in the U.S. and have shown sustainable growth over the past three years," Tecate VP marketing Felix Palau said. "This new product line is perfect for consumers that feel like having a beer that has a little something extra and is ready to be enjoyed on the spot."
Tecate Michelada will be available at retail throughout the western and central regions of the United States in 16-oz., single-serve cans for adults ages 21 years and older beginning this month.