Yellow Wood Partners’ Parfums de Coeur acquires Dr. Teal’s brand
BOSTON — Private equity firm Yellow Wood Partners announced on Wednesday that its portfolio company Parfums de Coeur, a provider of mass-market fragrances and supplier of specialty bath products in the United States, has acquired Dr. Teal’s Therapeutic Solutions from health and beauty company Advanced Beauty.
Terms of the deal were not disclosed.
Dr. Teal’s is a brand across multiple personal care categories in food, drug and mass channels including specialty bath, foot care and first aid. In addition to its line of bath and body products, Dr. Teal’s is the largest branded Epsom salt brand in the United States and has grown by more than 50% annually over the past five years. The brand’s products are sold in more than 30,000 food, drug and mass retail outlets in the United States and through several major retailers in Canada and other countries.
“Dr. Teal’s is a tremendous brand, offering the rare combination of real therapeutic solutions with truly experiential bath and body products that are as delightful to use as they are effective,” stated James Stammer, CEO of Parfums de Coeur. “Dr. Teal’s is the perfect complement to Parfums de Coeur’s leading fragrance and specialty bath offerings. We look forward to continue to grow the Dr. Teal’s brand with additional marketing resources to build on the current success of the brand with our broader customer base. This is the second add-on acquisition we have completed since Yellow Wood purchased Parfums de Coeur, which continues to broaden our product line, and it underscores the valuable role Yellow Wood plays in utilizing their deep consumer products industry knowledge and connections.”
“Dr. Teal’s is an ideal add-on investment for Parfums de Coeur, as we believe that the Parfums management team will be able to add even more firepower to an already growing and well positioned brand,” added Dana Schmaltz of Yellow Wood. “The acquisition fits our strategy of building Parfums into a broader personal care business in many ways. We thank Chris and Cindy McClain of Advanced Beauty and their management team for giving us this exclusive opportunity to buy a brand they have nurtured extremely well.”
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Milani Cosmetics enters 2014 with new leadership, marketing
LOS ANGELES — Multicultural cosmetics brand Milani has hit the ground running this year with a new leadership team, a re-energized brand platform and marketing and communications plans to enter its next evolution in business in 2014.
As the brand embarks on its next stage of evolution, a new team of executives has taken on leadership roles at Milani:
- Rhonda Baron, VP of sales and business development: An executive with more than 20 years of related industry experience of driving revenue growth for companies, including Chrislie Formulations, Almay/Revlon and Sally Hansen. Baron will oversee the next phase of the company’s sales growth in the United States and abroad;
- Cindy Cirlin, SVP of product development: Cirlin has more than 25 years of experience creating products and restaging existing SKUs for such brands as L’Oréal, Estée Lauder and Revlon;
- Gina Hagen, CFO: A 20-year beauty industry veteran, Hagen has been a contributor to creating value for companies, including OPI, a division of Coty and Trust Company of the West;
- Surawati (Lia) Tirta, VP regulatory: Previously, Tirta served as global regulatory compliance manager at OPI for more than six years, and Natrol as regulatory affairs administrator. Tirta handles evaluation of all product labels and operating procedures to ensure USFDA, EU and Canada compliance claims; and
- Mona Monaghan-Kelliher, chief marketing officer: Monaghan-Kelliher has more than two decades of experience in senior level marketing and business management positions. Her portfolio consists of managing partner of the MMK Group, North America; SVP and GM of Sally Hansen; VP marketing at Estee Lauder; and senior marketing positions at Revlon, both domestically and abroad. Monaghan-Kelliher is responsible for the company’s domestic and global marketing strategies, brand positioning, new product development, advertising, digital marketing, social media, customer insights, creative and sales.
With the new team in place, Milani Cosmetics has just completed two market research studies, which were used in developing all marketing strategies. Milani stated that it will kick off the spring season with print advertising, digital and social initiatives, promotional activities at retail, a revamped website and a public relations campaign across multiple media channels.
In addition, Milani introduced this month a cosmetics portfolio that includes problem-solving lip and brow beauty products. Taking the brand to even greater heights, Milani will launch two products in the nail and eye categories in the second half of the year. Positioned as the first of their kind, each collection combines formulations and patented technology with daring color palettes.
Milani Cosmetics are currently available in all CVS and Kmart stores and select Walmart and Walgreen stores, with plans to expand exponentially in both domestic and international markets in 2014.
I am glad that Milani cosmetic has evolved and come up in 2014.Milani cosmetic products like lip glosses,lip pencils, baked blushes are wonderful to use as they give you a glamorous look.
L’Oréal loosens ties with Nestlé via share buyback
PARIS and LAUSANNE, Switzerland — French beauty brand L’Oréal is buying back 8% of its shares from Nestlé, loosening their long-standing alliance, the companies have announced.
L’Oréal will buy 48.5 million of its own shares. Following the transaction, Nestlé’s stake in L’Oréal will be reduced from 29.4% to 23.29% of the share capital and the Bettencourt Meyers family’s stake in L’Oréal will increase from 30.6% to 33.31%.
The buyback will be refinanced partially through the disposal by L’Oréal to Nestlé of its 50% stake in Swiss dermatology pharmaceuticals company Galderma, dermatology-focused, Swiss-based joint venture between Nestlé and L’Oréal.
The transaction is expected to close by the end of the first semester in 2014.
“This transaction presents a very positive strategic move for L’Oréal, its employees and its shareholders, stated Jean-Paul Agon, chairman and CEO of L’Oréal. “L’Oréal will focus exclusively on its cosmetics business and its ‘beauty for all’ mission, its universalization strategy and its ambition to win 1 billion new customers.”
For Nestle, the acquisition of 50% of Galderma will enable it to pursue development in nutrition, health and wellness by expanding its activities to medical skin treatments. Enter Nestlé Skin Health S.A.
Nestlé chairman Peter Brabeck-Letmathe said “Building on Nestlé’s historic strengths as a science based nutrition, health and wellness company, and through the recent creation of Nestlé Health Science S.A., the company has reinforced its strategic direction to offer nutritional solutions from food and beverage to scientific products for a healthier life. By creating Nestlé Skin Health S.A. and by leveraging Galderma’s current portfolio, formulations and innovative research, Nestlé will now be able to provide science-based solutions for skin conditions. We strive to have a portfolio of innovative products that meet the full spectrum of people’s skin health needs over the course of their lives and to provide a holistic approach to people’s health.”
The new Nestlé Skin Health entity will have a range of products for the skin, hair and nail, including self-medication drugs, such quasi-drugs as medicated soaps or sunscreens, therapeutic skin care products, nutraceuticals, prescription drugs and medical devices, Nestlé stated.
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