Edgewell, owner of brands such as Wilkinson Sword and Schick, bought Billie, the direct-to-consumer women’s shaving and body care brand, in a $ 310 million transaction.
Edgewell said the deal met antitrust requirements and had already been concluded. This follows antitrust issues that have prevented a series of personal care deals from being completed in recent years.
An earlier bid on Billie by P&G, owner of Gillette, was blocked by the Federal Trade Commission (FTC) on the grounds that it would reduce competition in the industry. Edgewell also had to end its merger deal with shaving brand Harry’s last year after the FTC raised similar competition concerns.
Founded in 2017, Billie is a fast growing DTC brand focused on providing women with premium shaving and body care products. Its current portfolio includes razors, shaving cream, makeup wipes, body lotions, lip balms, dry shampoos and body washes.
Billie will continue to be led by her co-founders, Georgina Gooley and Jason Bravman. The brand intends to expand into retail brick and mortar next year.
Rod Little, President and CEO of Edgewell, said, “We are focused on our stated goal of strengthening our leadership position in the women’s razor category and executing our M&A strategy with discipline and discipline. precision, which this acquisition accomplishes.
“Edgewell has been a strategic supplier to Billie since its inception, and we view this acquisition as a natural evolution of the partnership between our two companies. This acquisition immediately enhances our organization’s consumer-centric digital capabilities and increases our presence in the important mid-value segment of women’s shaving in the United States, while strengthening Billie’s ability to capitalize on significant growth opportunities. by leveraging our retail distribution platform and marketing channels.
“Additionally, the acquisition provides us with a unique opportunity to expand Billie’s reach beyond razors and blades.
- The benefits of the women’s shaving market are obvious.
- But this coupled with Billie’s DTC expertise …
- … Could help Edgwell improve his Wilkinson and Schick DTC ability.