STAMFORD, Conn.--(BUSINESS WIRE)--PDC Beauty & Wellness Co. (“PDC” or the “Company”), a leading growth-oriented beauty and personal care products company, is pleased to announce that Alex Tosolini has been appointed as its new Chief Executive Officer, effective today. A 30-year veteran with a proven track record in the consumer goods and retail space, Mr. Tosolini most recently served as Senior Vice President of New Business Development at the Kroger Company. Mr. Tosolini succeeds James V. Stammer who has served as the company’s CEO and Board Director since 2005. Mr. Stammer has elected to step down as CEO after 15 years to pursue other interests.
Mr. Tosolini is a seasoned executive who brings significant experience in business strategy, sales, marketing, supply chain, e-Commerce, and M&A. In his most recent role at Kroger, Mr. Tosolini was focused on creating strategic opportunities and led Kroger’s recent partnerships with Ocado and Walgreens. Previously, he served in numerous global leadership roles over a 24-year career at Procter & Gamble, including as Senior Vice President Global eBusiness, Vice President Fabric Care North America, and General Manager Central Europe North.
“PDC has a strong portfolio of preeminent brands that resonate with today’s consumers. Together with PDC’s talented team, we will continue to deliver innovative, high quality products at affordable prices by putting the consumers at the heart of everything we do,” said Mr. Tosolini. “I look forward to implementing the strategies that position PDC brands for sustained growth and I am equally excited to meet with and learn from PDC’s talented employees, loyal customers and key industry stakeholders.”
Cameron Breitner, Managing Partner of CVC Capital Partners, remarked, “Alex brings to PDC a wealth of experience across both consumer products and retail. Throughout his career, he has demonstrated a consistent ability to innovate and drive growth through strategic leadership. We are very pleased to have him join PDC and remain excited about the Company’s future under his stewardship.”
Michael Solomon, Partner of Leonard Green & Partners, added, “LGP and CVC would like to recognize James Stammer for his many contributions to PDC over the last 15 years. James has played a central role in building PDC into a leading beauty and wellness company, and we will always be grateful to him for his dedication and leadership.”
James Stammer said, “It has been an honor to have led a great team in building this unique business over many years. I am immensely proud of our achievements over this time and have no doubt PDC continues to have a bright future for continued strong growth.”
About PDC Brands
Founded in 1981, PDC Beauty & Wellness Co. has emerged as one of the world's fastest growing beauty and wellness companies in the world. PDC’s portfolio of category-leading brands includes Cantu®, Dr Teal's®, Eylure®, and Body Fantasies®. PDC’s products can be found at major mass, chain drug, grocery and specialty retailers throughout the US, UK and in over 60 markets globally. PDC was recently name U.S. Supplier of the Year, Consumables, Health & Wellness, by Walmart. PDC is owned by affiliates of CVC and Leonard Green & Partners, as well as its management. For more information, please visit: www.pdcbeauty.com.
About CVC Capital Partners
CVC is a leading private equity and investment advisory firm. Founded in 1981, CVC today has a network of 24 offices and over 500 employees throughout Europe, Asia and the US. To date, CVC has secured commitments of over US$129 billion from some of the world's leading institutional investors across its private equity and credit strategies. In total, CVC currently manages approximately US$83 billion of assets. Today, funds managed or advised by CVC are invested in 73 companies worldwide, employing over 300,000 people in numerous countries. Together, these companies have combined annual sales of approximately US$100 billion.
For further information about CVC please visit: www.cvc.com.
About Leonard Green & Partners
Leonard Green & Partners, L.P. ("LGP") is a leading private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 90 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail.
For more information, please visit http://www.leonardgreen.com.