Edgewell Personal Care is the shaving and personal products business formed from the spin-off by what was then Energizer Holdings of its battery business. Several years earlier, Energizer had responded to the acquisition of its main rival Duracell by Gillette (and subsequently P&G) with its own move into grooming and personal care. In 2003, it became the global #2 in blades and razors following the purchase of the Schick and Wilkinson Sword brands, and further strengthened its position in 2010 with a deal for #3 player American Safety Razor. The group then entered the general personal care sector in 2007 with the acquisition of Playtex Products, whose brands included Playtex tampons and rubber gloves as well as Banana Boat and Hawaiian Tropic sunscreens. Another change of strategy followed P&G's decision to sell Duracell. The battery business was spun off as a new company, which adopted the corporate name Energizer Holdings, and the old company consolidated its shaving and personal care operations under the new name Edgewell Personal Care. It continues to expand its footprint with selective acquisitions. Its boldest deal to-date was the proposed purchase of direct-to-consumer shaving brand Harry's for almost $1.4bn. That deal had been expected to complete in early 2020, until it was blocked by a late challenge from the FTC. Edgewell is the global #2 in shaving products behind Gillette, with Schick mainly in North America and Japan and Wilkinson Sword in Europe, but it lags far behind the larger brand. In the US, it has around 10% market share to Gillette's 50%. Other shave-related products include the Edge and Skintimate shaving gels. In the wider skincare market, the group owns the Bulldog and Jack Black men's skincare brands, Banana Boat and Hawaiian Tropic suncare and Wet Ones hand wipes. In feminine sanpro, it markets the Playtex, Stayfree, Carefree and ob tampons and pads in North America. Edgewell's non-core infant and pet care brands Diaper Genie and Litter Genie were sold in 2019. Rod Little is group CEO. Revenues for the year to Sept 2019 were $2.1bn. However a $570m impairment charge against multiple brands resulted in net losses of $372m. Wet shave and associated skincare products accounted for 58% of revenues, and the proportion will be even higher following completion of the Harry's deal.
Capsule checked 19th December 2019
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Historical profile information for Edgewell
Adbrands Daily Update 4th Feb 2020: Edgewell Personal Care's proposed $1.4bn acquisition of DTC shaving brand Harry's is under threat from a lawsuit brought by the US Federal Trade Commission. The FTC argues that the takeover would eliminate one of the key competitive forces in an industry that has long been dominated by the "comfortable duopoly" of P&G's Gillette and Edgewell's Schick Wilkinson Sword. [Updated: Edgewell abandoned the deal a week or so later, but said it had received notice that Harry's plans to sue its former would-be partner.]
Adbrands Daily Update 9th May 2019: Edgewell Personal Care increased the pressure on hard-pressed rival P&G Gillette with a deal to acquire independent direct-to-consumer shaving brand Harry's for $1.37bn in cash and stock; or around five times annual revenues, which were around $250m in 2018. The deal sets a new record for the sector, trumping the $1bn Unilever spent two years ago on Harry's much bigger DTC rival Dollar Shave Club. It's also a spectacular win for Harry's co-founders and co-CEOs Andy Katz-Mayfield and Jeff Raider, who will join Edgewell and become co-presidents of all the group's US operations, including Schick and the company's other brands. That is almost certain to prompt a big new push into ecommerce for Edgewell's existing portfolio. However, Edgewell's shareholders were dismayed by the deal, marking down the stock by 13% to a ten-year-low in the wake of the announcement.
Adbrands Weekly Update 26th Apr 2018: Edgewell Personal Care - owner of the Schick and Wilkinson Sword shaving brands, Banana Boat sun cream and multiple other brands - has named MullenLowe as its global creative agency. The business transfers from longtime incumbent J Walter Thompson.
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