M&A Deal Summary

Yellow Wood Partners Acquires Dr. Scholl s Shoes

On July 22, 2019, private equity firm Yellow Wood Partners acquired apparel/textiles company Dr. Scholl s Shoes from Bayer and Caleres for 585M USD

Acquisition Highlights
  • This is Yellow Wood Partners’ 1st transaction in the Apparel/Textiles sector.
  • This is Yellow Wood Partners’ largest (disclosed) transaction.
  • This is Yellow Wood Partners’ 7th transaction in the United States.
  • This is Yellow Wood Partners’ 1st transaction in Missouri.

M&A Deal Summary

Date 2019-07-22
Target Dr. Scholl s Shoes
Sector Apparel/Textiles
Buyer(s) Yellow Wood Partners
Sellers(s) Bayer
Caleres
Deal Type Divestiture
Deal Value 585M USD

Target

Dr. Scholl s Shoes

St. Louis, Missouri, United States
Dr. Scholl's Shoes is a provider of foot care brand that has an over 110-year heritage with brand equity in the foot care category. Dr. Scholl's Shoes is based in St. Louis, Missouri.

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Buyer(S) 1

Buyer

Yellow Wood Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2009
PE ASSETS 2.9B USD
Size Large
Type Sector Focused
DESCRIPTION

Yellow Wood Partners is a specialist private equity firm focused on control and minority investments in the consumer sector. Yellow Wood targets growth companies generating positive cash flow and the potential and the potential for increased growth/improved margins. Specific areas of interest include food, beverages, pet care, home goods, outdoor/recreation, health/wellness, and beauty/personal care. The Firm looks to commit $15 to $350 million per company. Yellow Wood Partners was formed in 2009 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 7 of 13
Sector: Apparel/Textiles M&A 1 of 1
Type: Divestiture M&A Deals 2 of 6
State: Missouri M&A 1 of 1
Country: United States M&A 7 of 12
Year: 2019 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-29 Ecotools

Libertyville, Illinois, United States

Ecotools produces 100% cruelty-free and vegan synthetic makeup brushes, sponges, applicators, and bath accessories that are both stylish and eco-friendly. Ecotools is based in Libertyville, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Byoma

New York, New York, United States

Byoma is a skincare brand focused on offering products designed to strengthen and protect the skin's natural barrier. Byoma was founded in 2020 and is based in New York, New York.

Buy -

Seller(S) 2

SELLER

Bayer

Leverkusen, Germany

Category Company
Founded 1863
Sector Life Science
Employees89,556
Revenue 46.6B EUR (2024)
DESCRIPTION
Bayer office building in North Sydney, Australia.
Bayer office building in North Sydney, Australia.

Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech polymer materials. As an innovation company, it sets trends in research-intensive areas. Bayer’s products and services are designed to benefit people and improve the quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer was founded in 1863 and is based in Leverkusen, Germany.


DEAL STATS #
Overall 12 of 23
Sector: Apparel/Textiles M&A 1 of 1
Type: Divestiture M&A Deals 8 of 19
State: Missouri M&A 1 of 1
Country: United States M&A 4 of 7
Year: 2019 M&A 2 of 4
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-13 Coppertone

Whippany, New Jersey, United States

Coppertone was the first sun care brand launched in the US market. Coppertone is headquartered in Whippany, New Jersey, USA, and present in the United States, Canada, and China.

Sell $550M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-06 Currenta & Co. OHG

Leverkusen, Germany

Currenta GmbH & Co. OHG manages and operates infrastructure, energy supply, and other essential services across the chemical parks in Leverkusen, Dormagen, and Krefeld-Uerdingen, More than 70 production companies, and service providers currently enjoy the benefits of being located in Germany’s largest chemical park.

Sell €3.5B
SELLER

Caleres

St. Louis, Missouri, United States

Category Company
Founded 1878
Sector Retail
Employees4,800
Revenue 2.7B USD (2025)
DESCRIPTION

Caleres originally founded as Brown Shoe Company, Inc., is a global footwear retailer and wholesale. Caleres operates retail shoe stores and e-commerce websites as well as designs, sources and markets footwear for women and men. Caleres was incorporated in 1878 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 3 of 3
Sector: Apparel/Textiles M&A 3 of 3
Type: Divestiture M&A Deals 3 of 3
State: Missouri M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2019 M&A 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-18 Vionic Group

San Rafael, California, United States

Vionic Group LLC is a privately held global company offering product development, research, marketing and distribution of branded footwear, footbeds and educational workshops. Vionic was formed in 1979 and is based in San Rafael, California.

Buy $360M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-19 Stuart Weitzman

New York, New York, United States

Stuart Weitzman is a designer, manufacturer, wholesaler and retailer of premium women's shoes and handbags. Its shoe product lines include daily-wear, eveningwear and boots. The company sells its goods through a variety of channels, including national department store chains, fashionable boutiques and the Company's own retail stores. Stuart Weitzman is based in New York, New York.

Buy $105M