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Parfums de Coeurs becomes first Yellow Wood buyout from maiden fund

5 Sep 2012

Yellow Wood Partners has sealed its first deal since closing its maiden fund in January by picking up perfume-maker Parfums de Coeur.

Although terms of the transaction were not disclosed, the firm said it aimed to make investments of between $10m and $80m from its $225m Yellow Wood Partners Fund.

The purchase follows Yellow Wood’s announced strategy of targeting control or minority investments in consumer packaged goods companies.

PDC markets and distributes its products under the Body Fantasies, Designer Imposters and BOD Man brands in the US and several international markets.

Yellow Wood said it made the investment alongside the company’s management team, who invested equity into the business.

Peter Mann, who founded the firm alongside Dana Schmaltz, will become PDC chairman following the deal.

He said, “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.”

Yellow Wood exceeded its initial $200m target for its debut fund and attracted commitments from a small group of blue chip investors, including endowments and foundations based in North America, the Middle East and Australia.

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