Covington Represents Bayer in 585 Million Sale of Dr Scholls

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Covington Represents Bayer in $585 Million Sale of Dr. Scholl’s™

July 22, 2019

NEW YORK—Covington advised Bayer in a definitive agreement to sell the Dr. Scholl’s™ business to Yellow Wood Partners for a purchase price of $585 million.

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population.

Dr. Scholl’s™ has an over 110 year heritage in the foot care category. Dr. Scholl’s™ generated sales of $234 million U.S. dollars in 2018.

The Covington team included Peter Laveran, Allison Schiffman, Lauren Shor, Samantha Kobbe, and Kristen Spitaletta (M&A), Sergio Urias (private equity), Peter Schwartz and Micah Gruber (finance), Van Ellis, Marie Lavalleye, and Katrina Cokleski (intellectual property), Kevin Zaragoza and Jon Endean (tax), James O'Connell and Habin Chung (antitrust), Denise Esposito and Anna Zhao (FDA regulatory), Mark Plotkin and Ruchi Gill (CFIUS), Will Woolston (benefits), Libbie Canter and Hannah Lepow (data privacy), David Luttinger (insurance), Kim Strosnider and Joshua Williams (trade controls), Paul Schmidt (litigation), Mona Patel and Sarah Crowder (anti-corruption), Donald Elliott and John Mizerak (environmental).