SLOUGH, UK: Reckitt Benckiser Group (RB) announced a transaction for the sale of Scholl to Yellow Wood Partners.
The proposed Sale is a step forward in RB’s plan to bring greater focus to its portfolio, a news release said.
Scholl is a leading global footcare brand that produces a wide range of skin care products, insoles and treatment solutions for targeted foot conditions. The brand was founded in 1906 by William Scholl in Chicago, US and has a long history of innovation and category leadership.
RB acquired the brand as part of its acquisition of SSL International in 2010. The proposed Sale also includes RB’s Amopé, Krack and Eulactol footcare brands.
Laxman Narasimhan, Chief Executive Officer of RB, said: “Under RB’s ownership, Scholl strengthened its position as the number one footcare brand worldwide and established a new global category. Scholl is now ready for its next exciting phase of growth and, building on the strong foundations established over the last 10 years, we are confident it would reach even greater heights under Yellow Wood’s ownership, with the unique opportunity of reuniting Scholl with Dr. Scholl’s.”
Dana Schmaltz, Partner at Yellow Wood, said: “We are excited to reunite the Scholl brand globally to continue the legacy and heritage of the century old Dr. Scholl’s brand. Scholl is a strong business which has been outperforming the market, gaining market share across its key regions.
The company has an excellent product portfolio, a great customer base, and leading positions in the markets it serves. This is a significant investment in Scholl’s continued growth and as a combined global company we will be better positioned to take advantage of market opportunities and build the business in partnership with management and employees.”
The proposed transaction between RB and Yellow Wood is subject to consultation with RB’s works council in France which RB will now initiate. Subject to that consultation and the satisfaction of relevant closing conditions, it is expected that completion of the Sale would occur by Q3 2021.