Dr. Scholl’s changes owner. The seller is Bayer, giant of the pharmaceutical industry. The germans sold the footwear, foot-care and orthopedics group to Yellow Wood Partners, a US-based private equity fund.
A brand worth half a billion USD
The US fund explains, via an official note, that they have “stipulated a definitive agreement to buy Dr. Scholl’s operations from Bayer for 585 million USD”. The transaction should take place in the fourth quarter of 2019.
Past and future
Dr. Scholl’s is a worldwide known brand for footcare. The brand has been active for 110 years and, continues Yellow Wood Parneters, is “in first place for sales achieved in the most interesting segments”, and was able to generate sales for 234 million USD in 2018. “Yellow Wood Partners will create a standalone company”, through which it can “guide the business’ growth and profitability to offer value to all stakeholders”.
Image taken from scholl-shoes.com