AURELIUS Group to acquire Scholl’s footwear division from Reckitt Benckiser Group plc
Munich/London, July 21, 2014 - AURELIUS Group (ISIN DE000A0JK2A8), the listed mid-market pan-European investor, is acquiring the footwear division of Reckitt Benckiser Group plc owned Scholl brand for an undisclosed amount. AURELIUS’ investment will support the development of Scholl footwear through organic growth focused on new product offerings and expansion into new markets. The transaction is subject to regulatory approval and to the completion of the information-consultation process of the Unions where applicable. Completion is scheduled for Q3 2014.
Scholl Footwear offers a high level of comfort and support the natural functions of the foot. The Company’s target consumer group comprises adults who are particularly keen on comfortable shoes that prevent and alleviate discomfort. The company already enjoys a high level of brand awareness and positioning across Europe and many Asian markets. The brand is also popular in Australia. Scholl footwear products, some of which have medical device status, are predominantly distributed through pharmacies and medical supply stores in Europe and can be found in the general shoe trade across Asia. In 2013, Scholl Footwear generated revenues of around EUR 90 million.
Dirk Markus, Chief Executive and Co-founder of AURELIUS Group, said: “This is exactly the sort of business that AURELIUS hopes to acquire. We seek to partner with and invest in businesses with significant growth potential, and in Scholl Footwear we see this in abundance. We are delighted to be investing in Scholl Footwear and look forward to working with the business to support its future growth.”
The deal marks AURELIUS’ fourth investment in 2014. This transaction with a UK headquartered business is yet another step in the growing internationalization of AURELIUS, at the forefront of which are AURELIUS’ offices in London and Stockholm.
Commenting on this Tristan Nagler, Managing Director of AURELIUS UK, added: “We are very pleased to have established ourselves in the UK market following our recent move into a new London office and the expansion of our UK deal team. We are seeing an extremely positive deal pipeline in this market which is full of compelling transaction opportunities.”