July 22, 2019 / 1:15 PM / a month ago

Bayer sells Dr. Scholl's footcare brand to Yellow Wood Partners

FRANKFURT, July 22 (Reuters) - Bayer on Monday said it had agreed to sell its Dr. Scholl’s footcare brand to Boston-based private investment firm Yellow Wood Partners for $585 million, the second of two consumer care products it had planned to divest.

Bayer in May struck a deal to sell U.S. sun care brand Coppertone to Beiersdorf, the maker of Nivea and other skin care brands, for $550 million.

Bayer’s Dr. Scholl’s is primarily a North American brand. Rival Reckitt Benckiser owns the Scholl footcare business outside North America. (Reporting by Ludwig Burger Editing by Michelle Martin)

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