Energizer rounds out shaving portfolio
This article was originally published in The Rose Sheet
Executive Summary
Firm announces acquisition of S.C. Johnson's Edge and Skintimate shaving creams and gels - which it will combine with its Schick/Wilkinson Sword razor offerings - for $275 mil. "As leading brands in the U.S. men's and women's shave preparation category, Edge and Skintimate are a logical and attractive adjacency for our shaving business," Energizer CEO Ward Klein says. Firm says that in lieu of cash, it may give S.C. Johnson shares of non-voting redeemable preferred stock, with a liquidation preference of $310 mil., and semi-annual dividends. Deutsche Bank Securities advised the battery and personal-care marketer on the deal