STAMFORD, Conn.–(BUSINESS WIRE)–PDC Wellness and Personal Care Co. and its subsidiaries (“PDC” or the “Company”), a leading growth-oriented wellness and personal care company, announced today that Pete Columbia, the Company’s President, has been promoted to Chief Executive Officer and a member of the Company’s Board of Directors effective September 1, 2020.
Mr. Columbia will continue to lead the Company’s operational and commercial organizations. In conjunction with this announcement, Christopher J. Baldwin, currently a member of PDC’s Board of Directors, has been named Executive Chairman.
Mr. Columbia has over 30 years of experience in the branded consumer health, wellness and personal care sectors at PDC, White Rain, Lornamead, KAO and Unilever. He has held a number of senior roles over his 11 years at PDC, having originally joined as Chief Commercial and Sales Officer in 2009 before being named President and Chief Commercial Officer in 2018.
Cameron Breitner, Managing Partner of CVC Capital Partners, remarked, “I am delighted to announce Pete’s promotion to Chief Executive Officer. Over the past 11 years, he has demonstrated terrific leadership skills that have enabled PDC to drive outsized levels of growth and develop a very strong portfolio of brands. Pete has been central to the Company’s success since CVC Funds and Leonard Green acquired the business in 2017.” He continued, “My colleagues and I are also extremely pleased to collaborate again with Chris Baldwin. Chris has an exceptional record creating value at BJ’s Wholesale Club and in many other leadership roles over a highly successful career in consumer products and retail spanning over 30 years.”
Mr. Columbia stated, “I am honored to lead PDC as Chief Executive Officer. I look forward to working with the Board of Directors, our incredibly talented associates, and our partners at CVC and Leonard Green to build upon our leading positions. As a team, we will continue to bring high quality, innovative products at accessible price points to consumers worldwide.”
Chris Baldwin said, “Pete is a great choice as our Chief Executive Officer. As Executive Chairman, I look forward to continuing to work with Pete, the rest of the Board of Directors and the entire PDC team to help sustain PDC’s exceptional growth.”
PDC Wellness & Personal Care Co. (formerly known as PDC Beauty & Wellness Co.) has its origins in Parfums de Coeur, Ltd., which was founded in 1981. PDC has emerged as a leading growth-oriented wellness and personal care company. 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 Funds 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 23 offices and over 550 employees throughout Europe, Asia and the US. To date, CVC has secured commitments of over US$160 billion from some of the world’s leading institutional investors across its private equity and credit strategies. In total, CVC currently manages approximately US$105 billion of assets. Today, funds managed or advised by CVC are invested in more than 80 companies worldwide, employing over 400,000 people in numerous countries. Together, these companies have combined annual sales of approximately US$92 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.