Bayer: sells iconic foot care brand Dr. Scholl's
(CercleFinance.com) - Bayer has agreed to sell its iconic foot care brand Dr.
Scholl's to US private investment firm Yellow Wood Partners for 585 million dollars, the company said on Tuesday.
The deal, expected to be completed in the fourth quarter of 2019, comes as Bayer is facing multi-billion dollar lawsuits linked to the glyphosate weed killer Roundup.
The divestiture will enable Bayer to focus on its core over-the-counter brands, the German chemicals giant said.
Bayer took over Dr. Scholl's in late 2014. Last year, the brand has generated sales of 234 million dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Scholl's to US private investment firm Yellow Wood Partners for 585 million dollars, the company said on Tuesday.
The deal, expected to be completed in the fourth quarter of 2019, comes as Bayer is facing multi-billion dollar lawsuits linked to the glyphosate weed killer Roundup.
The divestiture will enable Bayer to focus on its core over-the-counter brands, the German chemicals giant said.
Bayer took over Dr. Scholl's in late 2014. Last year, the brand has generated sales of 234 million dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.