Bayer Completes $585-Million Sale of Dr. Scholl’s to Investment FirmBy
Bayer has completed the sale of its Dr. Scholl’s consumer footcare business to Yellow Wood Partners, a Boston-based private investment firm, for a purchase price of $585 million.
Dr. Scholl’s generated sales of $234 million in 2018. Yellow Wood Partners acquired the product rights to Dr. Scholl’s in the Americas and taken over approximately 30 dedicated brand personnel in the United States, including sales and marketing, research and development and other functions.
Bayer announced the divestiture of its foot-care brand earlier this year (July 2019), reporting that it would enable the company to focus on building its core over-the-counter brands.