Castanea Partners has made an investment in Thymes, a maker of branded fragrances sold to the bath & body and home fragrance markets. Other investors in this transaction include Stanfield Capital, RCP Advisors, Northstar Mezzanine, and management.
“Thymes is an exciting opportunity in the branded personal care and beauty space, an area of focus for us,” said Robert Smith, Managing Partner at Castanea. “The company is at a stage in its development where our sector expertise and operating experience will add value as Thymes pursues its growth potential.”
Thymes creates curated fragrance collections for body and hand lotions, bar soaps and bubble baths, candles, fragrance mists, potpourris, reed diffusers, and refresher oils. Thymes products are sold in over 5,000 specialty retail locations in the US. The company was founded in 1982 and is headquartered in Minneapolis (www.thymes.com).
“This strategic alliance with Castanea Partners will advance Thymes’s plans of continued expansion into select premium and specialty distribution channels, and significantly contribute to the next level of our success,” said Anne Sempowski Ward, CEO of Thymes.
Castanea Partners invests from $15 million to $75 million in companies that operate in the consumer brands, marketing services, and information services sectors. Castanea participates in leveraged buyouts, growth and acquisition equity investments, and operationally challenging situations. The firm is currently investing from its fourth fund, a $600 million fund that targets companies with enterprise values up to $250 million. Castanea is headquartered near Boston in Newton, MA (www.castaneapartners.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-3-15