Yellow Wood Partners to acquire Scholl from Reckitt Benckiser
The Boston-based private equity firm focused on investing in consumer brands and companies announced that it has entered into an agreement to acquire the Scholl footcare brand, from UK-based consumer-goods company Reckitt Benckiser
The acquisition will reunite Scholl with the Dr. Scholl's™ brand as one entity after more than 30 years of separate ownership. The combined business generates annual retail sales exceeding 700 million US dollars with leading market shares in the footcare category globally.
"This transaction provides us with a unique opportunity to create a global brand as an undisputed leader in the footcare category. We are excited to reunite these two companies to continue the legacy and heritage of the century old Dr. Scholl's brand. The combined company will have the global resources to continue to develop innovative wellness products with a single vision focused on providing the best footcare products for consumers around the world", commented Dana Schmaltz, Partner of Yellow Wood.
Yellow Wood acquired the Dr. Scholl's brand in the Americas from Bayer AG in 2019 and has since successfully built out a full standalone Dr. Scholl's organization, and have worked on building its e-commerce capabilities, accelerating new product development, strengthening the senior management team, and optimizing the consumer marketing mix.
Tad Yanagi, Partner at Yellow Wood, added: "Our previous experience with other global multinational CPG companies enabled us to work directly with Reckitt Benckiser to create this opportunity. We look forward to using the full Yellow Wood operating capabilities to complete the Scholl transaction in a smooth manner. We are excited to bring the operating focus required to achieve what we believe is a strong future growth plan for the business that will benefit customers and employees around the world".
The transaction is expected to be completed by the third quarter of 2021 and is subject to normal and customary closing conditions.
Dr. William Matthias Scholl started the iconic brand in 1906 and over the next several decades developed many innovative products and grew the company in the US and internationally. The brand has been owned by a number of multi-national corporations over the last 50 years. Bayer bought the Dr. Scholl's Americas business in 2014 as part of its acquisition of Merck & Co.'s consumer health unit. Yellow Wood acquired rights to the Dr. Scholl's brand in the Americas in 2019 from Bayer and established the Scholl's Wellness Company. RB has owned the rights to the Scholl brand outside the Americas since its 2010 acquisition of SSL International, plc.
Yellow Wood acquired the Dr. Scholl's brand in the Americas from Bayer AG in 2019 and has since successfully built out a full standalone Dr. Scholl's organization, and have worked on building its e-commerce capabilities, accelerating new product development, strengthening the senior management team, and optimizing the consumer marketing mix.
Tad Yanagi, Partner at Yellow Wood, added: "Our previous experience with other global multinational CPG companies enabled us to work directly with Reckitt Benckiser to create this opportunity. We look forward to using the full Yellow Wood operating capabilities to complete the Scholl transaction in a smooth manner. We are excited to bring the operating focus required to achieve what we believe is a strong future growth plan for the business that will benefit customers and employees around the world".
The transaction is expected to be completed by the third quarter of 2021 and is subject to normal and customary closing conditions.
Dr. William Matthias Scholl started the iconic brand in 1906 and over the next several decades developed many innovative products and grew the company in the US and internationally. The brand has been owned by a number of multi-national corporations over the last 50 years. Bayer bought the Dr. Scholl's Americas business in 2014 as part of its acquisition of Merck & Co.'s consumer health unit. Yellow Wood acquired rights to the Dr. Scholl's brand in the Americas in 2019 from Bayer and established the Scholl's Wellness Company. RB has owned the rights to the Scholl brand outside the Americas since its 2010 acquisition of SSL International, plc.
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