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Castanea Invests in Thymes

New PE firm takes stake in home and body fragrance brand.

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By: TOM BRANNA

Editor

Stone-Goff Partners has sold its equity stake in bath, body and home fragrance brands Thymes to a PE Castanea Partners. Terms of the transaction were not disclosed.
 
Originally founded in 1982 and headquartered in Minneapolis, MN, Thymes creates curated fragrance collections with product lines that include body and hand lotions, bar soaps and bubble baths, candles, fragrance mists, potpourris, reed diffusers, and refresher oils. Thymes products are sold more than 5,000 specialty retail locations in the US.
 
“It has been a pleasure working with Stone-Goff in growing Thymes,” said Anne Sempowski Ward, CEO of Thymes. “Their experience in supporting and building middle market companies has been essential to our success. We are well positioned for the future thanks to their early commitment and belief in the Thymes brand.”
 
Castanea, partners with small to middle-market companies in branded consumer products and services, including personal care and beauty, typically investing between $15-$75 million. It's current portfolio includes Drybar. Castanea had held a stake in Urban Decay, which it sold to L’Oréal in 2013.
 
Troy Stanfield of Stanfield Capital and a former partner at Castanea, will be joining the board of Thymes.

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