NEW YORK--(BUSINESS WIRE)--Stone-Goff Partners announced today that it has sold its equity stake in Thymes, a leading bath, body and home fragrance brand, to a private equity consortium which included consumer-focused private equity firm Castanea Partners.
Originally founded in 1982 and headquartered in Minneapolis, Minnesota, Thymes creates highly 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 is seen as a premium and innovative brand that has a unique consumer appeal. The company is also home to one of the most recognizable and proven home fragrances, Frasier Fir. Thymes products are sold in over 5,000 specialty retail locations in the United States. Thymes is led by CEO Anne Sempowski Ward.
“To be associated with such a powerful brand was a privilege,” said Laurens Goff of Stone-Goff Partners. “We will truly miss working with Anne and her team and we are confident they will continue to grow and thrive with their extraordinary new partners.”
"It has been a pleasure working with Stone-Goff in growing Thymes,” said Anne Sempowski Ward. “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."
Terms of the transaction were not disclosed.
Imperial Capital and law firm Fredrikson & Byron represented Thymes and Stone-Goff.
About Stone-Goff Partners
Stone-Goff Partners is a private equity partnership that makes investments in profitable lower middle market companies in the consumer and service sectors. The firm focuses on two types of transactions: partnering with founders and purchasing divisions of larger companies (corporate carve-outs). StoneGoff partners with entrepreneurs, founders, and management teams to achieve superior business results and create value for Stone-Goff’s investors.
For more information about Stone-Goff Partners, please visit www.stonegoff.com