CVC weighs $2bn sale of Dr Teal’s owner Arthea
CVC Capital Partners is exploring a potential sale of personal care platform Arthea, the owner of brands including Dr Teal’s, in a transaction that could value the business at around $2bn, according to a report Reuters citing unnamed people familiar with the matter.
CVC Capital Partners is considering selling the personal care platform Arthea, which owns brands such as Dr Teal's, according to a report citing unnamed sources. The potential transaction could value the business at around $2 billion, though discussions are at an early stage and may not lead to a sale. CVC acquired Arthea, formerly known as PDC Brands, from Yellow Wood Partners for $1.43 billion in 2017.
The company rebranded as Arthea last month, with a focus on personal care and wellbeing. Based in White Plains, New York, Arthea operates in the bath and body, fragrance, and hair care sectors, with products sold in over 80 countries. The business has also launched Sunryz, a body care brand targeting the tween market. A sale would provide a significant return for CVC, as the private equity firm seeks exits from consumer-focused assets.
This year has seen a number of large transactions in the personal care sector, including L'Oréal's $4.7 billion purchase of Kering's beauty division and Henkel's $1.4 billion acquisition of hair care brand Olaplex.
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