Yellow Wood Partners, a Boston-based private investment firm, completed the $585m acquisition of Dr. Scholl's, a footcare brand from Bayer, a global enterprise with core competencies in the life science fields of health care and nutrition. "The Yellow Wood team is excited to become the next steward of the iconic Dr. Scholl's brand. Dr. Scholl's is the leading brand in the footcare category and we see great potential to grow the brand in its existing and other sales channels. The brand fits extremely well into the Yellow Wood consumer-focused business model as our firm has the operating experience from other carve-out investments to work with the Bayer employees who are continuing with the brand to build an exciting new stand-alone platform company," Dana Schmaltz, Yellow Wood Managing Partner.