Slaughter and May is advising Reckitt Benckiser Group plc ("RB") on a transaction for the sale (“the Sale”) of Scholl to Yellow Wood Partners ("Yellow Wood"). The proposed Sale is a step forward in RB's plan to bring greater focus to its portfolio.
The proposed transaction between RB and Yellow Wood is subject to consultation with RB's works council in France which RB will now initiate. Subject to that consultation and the satisfaction of relevant closing conditions, it is expected that completion of the Sale would occur by Q3 2021.
Laxman Narasimhan, Chief Executive Officer of RB, said:
"Under RB's ownership, Scholl strengthened its position as the number one footcare brand worldwide and established a new global category. Scholl is now ready for its next exciting phase of growth and, building on the strong foundations established over the last 10 years, we are confident it would reach even greater heights under Yellow Wood's ownership, with the unique opportunity of reuniting Scholl with Dr. Scholl's."
Slaughter and May worked closely with the RB in-house legal team, including Sapna Dutta, Senior Vice President, Legal for RB’s Health business division and Nora Kao, Senior Legal Counsel in RB’s Corporate Legal team.
Lauren Phare / Trainee, Alexandra Cameron / Trainee