Edgewell Personal Care Company
Consumer Packaged Goods - Personal Care ProductsFounded 2015- Updated July 2025
Reviewed by Swet Parvadiya
Last reviewed: July 2025
CorpDigest
Edgewell Personal Care Company
Company History
Founded 2015 in Shelton, Connecticut
Last reviewed: 2025-07-15 · By Swet Parvadiya
Edgewell Personal Care Company reported FY2024 net sales of $2,253.7 million, essentially flat from $2,251.6 million in FY2023, with net earnings of $98.6 million and diluted EPS of $1.97. This headline stability masks significant segment divergence: Wet Shave segment profit surged 28.8% to $203.9 million, demonstrating the segment's operating leverage; Sun and Skin Care segment profit declined 4.4% to $131.3 million, reflecting marketing investment and Wet Ones disruption; and Feminine Care segment profit collapsed 42.1% to $28.8 million, driving the November 2025 decision to sell the business to Essity for $340 million. The company's stock trades at $20.28 with a market cap of approximately $935 million—a price-to-sales ratio of 0.41 that values the enterprise at less than half annual revenue. This deep discount reflects investor concerns about competitive pressure from Gillette, category decline in wet shaving, regulatory risk from Banana Boat recalls, and the structural weakness of Feminine Care. CEO Rod Little, a former P&G finance director and Air Force officer, has guided the company through the failed Harry's acquisition, the Billie acquisition, the benzene recalls, and now the Essity divestiture. The strategic bet is that a focused portfolio of Wet Shave and Sun and Skin Care—complemented by Billie's digital capabilities—can generate mid-single-digit organic growth and mid-to-high-teens EBITDA margins, justifying a significant valuation re-rating.
Edgewell Personal Care Company was created on July 1, 2015, through the tax-free spin-off of Energizer Holdings' personal care business. The company inherited a portfolio of brands acquired by Energizer over the preceding decade, including Schick-Wilkinson Sword (acquired from Pfizer in 2003 for $930 million), Playtex Products (acquired in 2007 for $1.9 billion), Edge and Skintimate (acquired in 2009), and American Safety Razor (acquired in 2010 for $301 million). While Edgewell as a corporate entity dates to 2015, its brand lineage extends to 1772 through Wilkinson Sword and 1926 through Schick. The company was incorporated in Missouri on September 23, 1999, as part of Ralston Purina's corporate structure, and has been publicly traded since April 1, 2000. Following the 2015 spin-off, Edgewell has pursued a strategy of selective acquisitions (Bulldog, Jack Black, Cremo, Billie) and operational improvement to transform from a legacy shave company into a modern personal care enterprise.
Wilkinson Sword is founded in London as a manufacturer of swords and bayonets, later becoming one of the world's oldest and most recognized blade brands. The company's 250-year heritage provides Edgewell with one of the deepest brand lineages in consumer goods.
Jacob Schick founds the Magazine Repeating Razor Company, later renamed Schick Safety Razor Company. Schick would go on to invent the first electric shaver and become a pioneer in manual razor technology, introducing the first stainless steel blade in 1962.
International Latex Corporation is established, launching the Playtex brand. The company would later expand into feminine care, infant care, and sun care products, becoming a core component of Edgewell's portfolio through the 2007 acquisition.
Hawaiian Tropic is founded, establishing a brand that would become iconic in the sun care category and eventually part of Edgewell's portfolio through the Playtex acquisition.
Banana Boat is founded, creating a sun care brand that would become one of the most recognized in the world and a cornerstone of Edgewell's Sun and Skin Care segment.
Energizer Holdings is incorporated as a subsidiary of Ralston Purina Company, setting the stage for the company's expansion into personal care through subsequent acquisitions.
Ralston Purina distributes all outstanding shares of Energizer Holdings to its shareholders, making Energizer an independent publicly-owned company focused on batteries and portable lighting.
Energizer acquires the Schick-Wilkinson Sword business from Pfizer for approximately $930 million, adding the #2 global wet shave franchise and establishing the foundation for Edgewell's modern identity.
Energizer acquires Playtex Products for $1.9 billion, bringing Banana Boat, Hawaiian Tropic, Wet Ones, Playtex feminine care, and Playtex infant care into the portfolio. This acquisition transforms Energizer into a diversified personal care and household products company.
Energizer acquires the Edge and Skintimate shave preparation brands, strengthening the company's position in the shave preparations category and adding complementary products to the Schick and Wilkinson Sword razor systems.
Energizer acquires American Safety Razor for $301 million, adding the Personna brand and private-label razor manufacturing capabilities. This acquisition enhances the company's custom brands and value-tier offerings.
On July 1, 2015, Energizer completes the tax-free spin-off of its Household Products business (batteries and portable lighting) into a separate publicly traded company. The remaining personal care business is renamed Edgewell Personal Care Company and begins trading on the NYSE under the ticker EPC. Shareholders receive one share of New Energizer for each share held.
Edgewell acquires Bulldog Skincare for Men, a UK-based natural men's grooming brand. The acquisition marks Edgewell's entry into the natural grooming segment and provides a foothold in the UK and European markets.
Edgewell acquires Jack Black, a premium men's grooming and skincare brand, for approximately $90 million. The acquisition strengthens Edgewell's presence in premium skincare and specialty retail channels.
Edgewell announces a $1.37 billion acquisition of Harry's, the DTC razor startup. The deal is intended to transform Edgewell's digital capabilities and competitive position in wet shave.
In February 2020, the FTC sues to block the Harry's acquisition on antitrust grounds. Edgewell terminates the deal and pays a $56 million breakup fee. Later in 2020, the company acquires Cremo, a fast-growing masstige grooming brand, for approximately $235 million as a pivot to smaller digital-brand acquisitions.
In November 2021, Edgewell announces the $310 million all-cash acquisition of Billie Inc., a digital-native women's shaving and body care brand. The deal closes in January 2022, giving Edgewell a DTC platform and younger demographic after P&G's own Billie bid was blocked by the FTC.
In July 2022, Edgewell issues a voluntary nationwide recall of three batches of Banana Boat Hair & Scalp Sunscreen Spray SPF 30 due to benzene contamination in the aerosol propellant. The recall is expanded in January 2023 to include a fourth batch, creating regulatory and reputational challenges for the sun care business.
On December 1, 2023, a fire occurs at the Wet Ones manufacturing plant in Sidney, Ohio, causing a partial shutdown of operations. The incident incurs $12.2 million in incremental costs during FY2024 and disrupts Wet Ones supply.
Edgewell reports FY2024 net sales of $2,253.7 million with Wet Shave segment profit up 28.8% and Feminine Care segment profit down 42.1%. The company announces plans to consolidate four North American manufacturing sites into a single automated plant, including the closure of the Milford, Connecticut Schick facility by December 2027.
In November 2025, Edgewell announces a definitive agreement to sell its Feminine Care business to Essity for $340 million. The transaction includes Playtex, Stayfree, Carefree, and o.b. brands and is expected to close in Q1 calendar 2026. The divestiture is projected to add $0.40-$0.50 to annualized adjusted EPS.
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.
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.
Added the Personna brand and private-label razor manufacturing capabilities, strengthening the company's position in value-tier and custom brand razors.
Added a UK-based natural men's grooming brand to the portfolio, providing entry into the natural skincare segment and European distribution.
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.
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.
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.
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.