BIE Executive was engaged to support the business carve out of the Scholl brand from Reckitt Benckiser Plc and establishment of a brand new company following a successful acquisition approach made by Boston-based private equity firm Yellow Wood Partners LLC. Yellow Wood already controlled the Dr Scholl brand in the US, however the Scholl brand marketed across the rest of the world as a wholly owned business unit of Reckitt Benckiser Group plc. The acquisition will ultimately reunite Scholl with the Dr. Scholl’s™ brand as one entity after 30+ years of separate ownership.
At the point that the transaction closed, the acquired Scholl brand required crucial resources that would enable a brand new company to be stood up – the only employees to convey under Transfer of Undertakings (TUPE) were a few Research and Development, Regulatory and Marketing staff (which represented less than 20% of the required headcount), with all other functions and staff to be recruited. Additionally, as the build phase requirements would differ significantly from the run phase, a number of interims were needed to set up functions and plan to exit multiple Transitional Service Agreements (TSAs) in place with Reckitt, and ultimately operate effectively and profitably. In order for this new company to plan, procure, move and market products outside of Reckitt, BIE was appointed as part of the supplier panel tasked with recruiting key interim and permanent talent. This was across the breadth of its expertise areas including Supply Chain & Procurement, Regulatory Affairs, Transformation and Finance.
BIE worked with Scholl to uncover the specific requirements of the business and the numerous resources needed.
Given the time constraints and nature of the acquisition, Scholl required the immediate appointment of multiple positions to enable the business to function following the closure of the deal and ultimately the full go live following TSA exit. This fast-paced approach meant that roles and job specifications often shifted and evolved as the project developed, which added an additional challenge.
An additional factor was Scholl’s determination to nurture the development of its own culture and value-set, necessitating more than just job skills and experience.
BIE originally worked closely with advisors appointed to create the initial business plan and then with Scholl management, to identify and define the specifications of each role and subsequently deliver the talent. Subject matter expertise was crucial in this, enabling BIE consultants to work in partnership with Scholl to deliver a combination of 19 key interim and permanent placements across a wide range of functions.
The acquisition of the Scholl brand was completed effectively and on-time, meaning Scholl was able to operate as a standalone legal entity & progress towards exiting the TSA’s and becoming a fully independent business with its own unique culture. The partnership and resources provided by BIE were crucial in making this happen.
Demand Planning Director – Permanent
Demand Planning Consultant – Contract
Inventory & Supply Planning Manager – Permanent
ERP Project Manager – Contract
Head of Regulatory Quality Management Systems – Contract
Finance Director – Contract
Interim IT Director – Contract
Interim Product Supply Consultant – Contract
Interim Project Manager / O2C / S2P – Contract
Programme Planning Consultant – Contract
QMS Regulatory Affairs Consultant – Contract
R2R Business Process Manager – Contract
Regulatory Affairs Consultant – Contract
