Acquisitions

Edgewell Personal Care Acquisitions

8

Total Acquisitions

$5.1B

Disclosed Deal Value

Billie Inc.

2022

$310M

Why

Added a digital-native women's shaving and body care brand targeting millennial and Gen Z consumers. Billie operated a DTC subscription model and had expanded into Target. The acquisition came after P&G's own Billie bid was blocked by the FTC.

Impact

Provided Edgewell with a DTC platform, younger demographic, and digital marketing capabilities. Billie has since expanded into Walmart and CVS and broadened its product line to body lotion, dry shampoo, lip balm, and deodorant.

Outcome

Billie represents Edgewell's most significant growth opportunity. The brand's digital-native model and younger consumer base complement legacy Schick and Wilkinson Sword brands. Scaling Billie profitably is a key strategic priority.

Harry's (terminated)

2020

$1.4B

Why

Announced in 2019 as a transformative acquisition to add DTC capabilities, digital marketing expertise, and a younger consumer base. The deal would have combined Harry's digital-native model with Edgewell's manufacturing scale and retail relationships.

Impact

The acquisition was terminated in February 2020 after the FTC sued to block it on antitrust grounds. Edgewell paid a $56 million breakup fee. The failure was a significant strategic setback that forced a pivot to smaller acquisitions.

Outcome

Harry's subsequently expanded into mass retail and achieved notable U.S. market share gains, validating the strategic logic of the acquisition. Edgewell's failure to acquire Harry's left the company without a leading DTC platform, a gap partially filled by the later Billie acquisition.

Cremo Masstige Grooming

2020

$235M

Why

Added a fast-growing masstige grooming brand with strong digital velocity. Cremo offered shave cream, body wash, hair styling, and fragrance products targeting male consumers seeking quality at accessible prices.

Impact

Complemented Bulldog and Jack Black across the natural, masstige, and premium price tiers. Cremo's digital marketing capabilities provided insights into online consumer engagement.

Outcome

Cremo has been a solid performer with growing digital presence. The acquisition was accretive to the grooming portfolio but subscale relative to the Harry's opportunity.

Jack Black Premium Men's Grooming

2018

$90M

Why

Added a premium men's grooming and skincare brand sold through specialty retail and department stores. The acquisition targeted affluent male consumers with high-quality formulations.

Impact

Strengthened Edgewell's presence in premium grooming and specialty retail channels. Jack Black commands premium pricing and higher margins than mass-market brands.

Outcome

Jack Black remains a premium niche brand. The acquisition provided brand elevation but limited scale in a category where L'Oréal Men Expert and Kiehl's dominate.

Bulldog Skincare for Men

2016

Why

Added a UK-based natural men's grooming brand to the portfolio, providing entry into the natural skincare segment and European distribution.

Impact

Established Edgewell's presence in the men's grooming category beyond shave products. Bulldog's natural, cruelty-free positioning appealed to younger male consumers.

Outcome

Bulldog remains a niche brand with limited scale. The acquisition was strategically sound but has not achieved the growth rates needed to materially impact the portfolio.

American Safety Razor

2010

$301M

Why

Added the Personna brand and private-label razor manufacturing capabilities, strengthening the company's position in value-tier and custom brand razors.

Impact

Enhanced Edgewell's ability to serve retailers with private-label offerings and capture value-tier demand. The acquisition provided manufacturing scale and cost advantages in blade production.

Outcome

Private-label and custom brands remain a stable but lower-margin component of the Wet Shave portfolio. The acquisition's strategic value has diminished as the company focuses on branded growth.

Playtex Products

2007

$1.9B

Why

Added Banana Boat, Hawaiian Tropic, Wet Ones, Playtex feminine care, and Playtex infant care to the portfolio. The acquisition was Energizer's largest and transformed the company into a major personal care player.

Impact

Added approximately $1.6 billion in annual revenue and established the Sun and Skin Care and Feminine Care segments. The acquisition provided iconic brands with strong consumer equity but also added complexity to the portfolio.

Outcome

Banana Boat and Hawaiian Tropic remain core sun care brands, though the Banana Boat benzene recalls in 2022-2023 damaged brand trust. Wet Ones remains significant but faced disruption from the 2023 plant fire. The Feminine Care brands are being sold to Essity in 2025, reflecting their structural decline.

Schick-Wilkinson Sword from Pfizer

2003

$930M

Why

Added the #2 global wet shave franchise to Energizer's portfolio, establishing the foundation for what would become Edgewell's core business. The acquisition brought Schick and Wilkinson Sword razor systems, disposable razors, and shave preparations.

Impact

Transformed Energizer from a battery company into a diversified personal care enterprise. Schick-Wilkinson Sword became the largest revenue contributor to the eventual Edgewell portfolio, generating approximately $1.2 billion in annual sales at its peak.

Outcome

Schick and Wilkinson Sword remain Edgewell's flagship brands and the foundation of the Wet Shave segment. The acquisition has been successful in terms of revenue generation but has not prevented market share erosion to Gillette and DTC disruptors.

Edgewell Personal Care Company's Growth & Acquisition Strategy

Edgewell is focused on brand investment, product renovation, Billie and grooming growth, sun-care execution, international expansion, productivity, and a more focused portfolio after the Feminine Care sale.

How Edgewell Personal Care Company Makes Money

Edgewell makes money by manufacturing and selling branded personal care products through retailers, distributors, club stores, pharmacies, e-commerce, and international channels.

Edgewell Personal Care Acquisitions FAQ

What acquisitions has Edgewell made?

Edgewell's notable portfolio moves include Bulldog Skincare, Jack Black, Billie, and legacy Playtex and Wilkinson Sword assets.

Why does Edgewell make acquisitions?

Edgewell uses deals for adding younger consumers, men's grooming, digital brands, and personal-care category breadth.

How do deals affect Edgewell's strategy?

Deals can add products, talent, technology, customers, or regional scale that support Edgewell's broader strategy.

Does Edgewell grow only through acquisitions?

No. Edgewell also relies on organic product development, customer expansion, and operational execution.

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