Edgewell Cuts $310m Billie Deal Without FTC Incident
Acquisition of value-tier, female-first razor firm Billie, Inc. – previously attempted by P&G before the US Federal Trade Commission intervened – will add a youthful, on-message brand to the Schick owner’s women’s shave portfolio. The deal follows Edgewell’s bid to acquire Harry’s in 2020, also thwarted by the FTC.
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Edgewell has hitched its wagon to younger consumers in its return to quarterly growth, from women’s shave brand Billie, acquired in late 2021, to rebranded Schick Men and now Fieldtrip, a new skin-care line featuring sustainably sourced ingredients across four continents, plus environmentally thoughtful packaging. “Gen-Z consumers expect more than just functional benefits,” Edgewell says.
Consumers’ return to the office, increased socialization and time spent outdoors in the second quarter translated to strong growth in Edgewell’s Sun and Skin Care division. Meanwhile, DTC women’s shave brand Billie – acquired last year for $310m – contributed more than five points of net top line growth in the quarter, company leadership said.
Unilever, which has had three offers for GSK rebuffed, likely notes that the Federal Trade Commission and Department of Justice signal they will tighten scrutiny of deals that merge companies providing consumer-facing products and services.