The amount of the transaction was not disclosed. In conjunction with the investment, Troy Stanfield, of Stanfield Capital and a former partner at Castanea, will be joining the board of Thymes. Other investors including Stanfield Capital, RCPDirect II LP, Northstar Mezzanine Partners VI, LP, and management also participated.
The company will use the proceeds to continue to grow operations into select premium and specialty distribution channels.
Originally founded in 1982 and headquartered in Minneapolis, Minnesota, 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.
Led by Anne Sempowski Ward, CEO, the company also operates home fragrance Frasier Fir.
Thymes products are sold in over 5,000 specially retail locations in the United States.