Yellow Wood Partners to Acquire Scholl From Reckitt Benckiser

- Yellow Wood to Combine Non-Americas Brand with Dr. Scholl's Brand Creating Leading Global Footcare Brand

- Q3 Expected Close Will Reunite Brand Globally Under Single Entity After 30+ Years

- Newly Combined Company to Generate Over $700 Million in Annual Retail Sales

BOSTON, Feb. 24, 2021 /PRNewswire/ -- Yellow Wood Partners LLC ("Yellow Wood"), a Boston-based private equity firm focused on investing in consumer brands and companies, today announced that it has entered into an agreement to acquire the Scholl footcare brand, which operates globally outside of the Americas, from U.K.-based consumer-goods company Reckitt Benckiser Group plc ("RB").  The acquisition will reunite Scholl with the Dr. Scholl's brand as one entity after 30+ years of separate ownership.  The combined business generates annual retail sales exceeding $700 million with leading market shares in the footcare category globally.

The Dr. Scholl's brand is a category leader at major bricks and mortar and ecommerce retailers in the U.S.  Similarly, the Scholl brand is a category leader in various regions such as France, Italy, Germany, the U.K., Australia and many other markets outside of North America with deep penetration at both major retailers and independent pharmacies across Europe.   In addition to its footcare products, the Scholl brand provides a diversified portfolio of skin care products, insoles, and treatment solutions for targeted foot conditions.  The combination of Scholl and Dr. Scholl's will create a global footcare brand operating in 50+ countries as an integrated business.

Dana Schmaltz, Partner of Yellow Wood, said, "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.  We are very proud of the work our management team and we have done thus far to build the Scholl's Wellness Company as a standalone, highly-focused entity in the Americas, and, we look forward to the potential of capitalizing on the company's strong momentum with this highly complementary acquisition."