Yellow Wood Partners to buy Dr. Scholl's business from Bayer for $585M
Yellow Wood Partners and Bayer announced that Yellow Wood Partners has entered into a definitive agreement to buy the Dr. Scholl's business from Bayer for a purchase price of $585M. Dr. Scholl's generated sales of $234M in 2018. Yellow Wood Partners will acquire the product rights to Dr. Scholl's in the Americas and take over approximately 30 dedicated brand personnel in the United States and Canada, including Sales and Marketing, Research & Development and others. The transaction is expected to close in Q4 2019 subject to the satisfaction of customary closing conditions, including approval by the competition authorities. "With the acquisition of Dr. Scholl's, Yellow Wood Partners will create a stand-alone company in which it plans to invest in all aspects of the business to drive the growth and profitability of the brand to deliver value for all of its stakeholders. The divestiture enables Bayer to focus on building its core over-the-counter brands," the companies stated.