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 AG and Caleres, Inc. for 585M USD

Acquisition Highlights
  • This is Yellow Wood Partners’ 1st transaction in the Apparel/Textiles sector.
  • This is Yellow Wood Partners’ 1st largest (disclosed) transaction.
  • This is Yellow Wood Partners’ 5th 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 AG
Caleres, Inc.
Deal Type Divestiture
Deal Value 585M USD

Target

Dr. Scholl's Shoes

St. Louis, Missouri, United States
website
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

website


Category Private Equity Firm
Founded 2009
PE ASSETS 225M USD
SizeSmall
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 $25 to $150 million per company. Yellow Wood Partners was formed in 2009 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 5 of 7
Sector (Apparel/Textiles) 1 of 1
Type (Divestiture) 2 of 4
State (Missouri) 1 of 1
Country (United States) 5 of 6
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-14 Freeman Beauty LLC

Beverly Hills, California, United States

Freeman Beauty LLC is a specialty beauty company with a portfolio of brands across the skin care, hair care, foot care and specialty bath and body categories. Freeman’s iconic brands serve categories with explosive growth and include Feeling Beautiful, the #1 facial mask brand in the mass market. Freeman has a proven track record over the last several years of innovation across its portfolio of brands, which also includes Beauty Infusions facial masks, Psssst! dry shampoo, c.Booth bath and body care products, and Bare Foot foot treatments. Freeman Beauty was founded in 1976 and is based in Beverly Hills, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Reckitt Benckiser - Scholl

Slough, United Kingdom

Reckitt Benckiser's Scholl produces a wide range of skin care products, insoles and treatment solutions for targeted foot conditions.

Buy -

Seller(S) 2

SELLER

Bayer AG

Leverkusen, Germany

website


Category Company
Founded 1863
SectorLife Science
Employees99,349
Revenue 41.4B EUR (2020)
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 19
Sector (Apparel/Textiles) 1 of 1
Type (Divestiture) 8 of 15
State (Missouri) 1 of 1
Country (United States) 4 of 6
Year (2019) 2 of 4
Size (of disclosed) 7 of 9
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 GmbH & 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, Inc.

St. Louis, Missouri, United States

website


Category Company
Founded 1878
SectorRetail
Employees4,900
Revenue 2.1B USD (2021)
DESCRIPTION

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


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

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