Thymes and DPM Fragrance, the parent company of Capri Blue and Aspen Bay Candles, have merged to create CURiO™, a powerful new platform in the prestige bath, body and home fragrance market. CURiO, will continue to market to consumers under the core brands of Aspen Bay Candles®, Capri Blue®, and Thymes®.
Both Thymes and DPM Fragrance have proven track records of innovation and growth and have been highly successful in creating industry-leading fragrances and brands. Thymes has more than 30 years of history in the global gift specialty market with strong, recognizable and timeless fragrances such as Goldleaf® and Frasier Fir®. DPM, with both its Capri Blue and Aspen Bay Candles brands, has created signature fragrances such as Volcano® and Aloha Orchid® found in Anthropologie and many other fine specialty retailers around the world. DPM is also well known for developing and hand pouring high-quality candles for several well-known, luxury brands.
Following a major investment by Castanea Partners, RCP, Stanfield Capital, and Northstar in December 2014, Thymes has been focused on continuing to expand the company’s footprint. Anne Sempowski Ward will continue on as CEO of CURiO and its brands. “With Thymes’ strength in bath & body and seasonal home fragrance and DPM’s strength in candles and everyday home fragrance, we now have a complete portfolio of unique and award-winning fragrance brands and expertise. Together, we are able to vertically integrate and holistically serve a wide range of specialty retailers in the U.S. and globally,” said Ward.
Tom Reed, Founder of DPM, has joined the Board of CURiO. “The synergies between DPM and Thymes are amazing – it’s such a great fit. This is a fantastic next step full of potential and opportunity for the entire team – and for our current and future customers,” said Reed.
Terms of the transaction were not disclosed.
Founded in 1982 in Minneapolis, Minnesota, Thymes artfully curates intriguing fragrances inspired by nature to craft high quality personal care and home fragrance products. Composed in the Thymes Fragrance Studio®, a team of highly experienced chemists and perfumers use botanical extracts along with other essential ingredients to blend nature, art and science. Thymes’ premium product line includes soaps, lotions and other bath and body products, as well as home fragrance selections such as candles and diffusers. Thymes products are sold in over 5,000 specialty retail locations in the United States and in 18 countries and territories globally.
Founded in 1999 in Starkville, Mississippi, DPM Fragrance has become known for providing high quality candles, poured by artisans devoted to their beautiful craft. With an unmatched design team and by combining an exceptional soy wax blend with carefully selected oils, the company creates experiences that transport the senses. Each handmade product reflects the highest ambition for product quality and every candle is created to make a lasting impression. DPM has been named to the Inc. 5000 for the last five years as one of the fastest growing companies and is a formidable force in the home fragrance segment.
Castanea is a private equity firm that works in partnership with founders and management teams of innovative passion brands to grow their businesses through a combination of capital investment and operating expertise. We are focused on select consumer verticals including beauty, food and beverage, multi-unit services, and enthusiast lifestyle. We typically invest between $15 to $150 million of equity in minority or majority transactions. Our team of talented operating executives offers critical expertise in key verticals and functional areas, and provides our partner companies with strategic and tactical support. Castanea has more than $1 billion in assets under management and is currently investing from a $735 million fourth fund. For more information about Castanea Partners read our story.