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)