Edgewell, the owner of brands such as Wilkinson Sword and Schick, has bought direct-to-consumer (DTC) women’s shaving and body care brand Billie in a $310m transaction.
Edgewell stated that the deal had cleared antitrust requirements and had already been closed. This follows antitrust issues that have prevented a series of personal care transactions from being completed in recent years.
An earlier bid for Billie by Gillette-owner P&G was blocked by the Federal Trade Commission (FTC) on the grounds that it would reduce competition in the sector. Edgewell also had to terminate its merger agreement 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 lotion, lip balms, dry shampoo and body wash.
Billie will continue to be led by its co-founders, Georgina Gooley and Jason Bravman. The brand has plans to expand into bricks & mortar retail next year.
Rod Little, Edgewell President and Chief Executive, said: “We are focused on our stated goal of building on our leading position in the women’s shave category and executing on our M&A strategy with discipline and precision, both of 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 the consumer-centric, digital capabilities of our organisation and elevates our presence in the important mid-tier value segment of women’s shaving in the US, while bolstering Billie’s ability to capitalise on significant growth opportunities by leveraging our retail distribution platform and marketing channels.
“Additionally, the acquisition provides us with a unique opportunity to further broaden Billie’s reach beyond razors and blades.”
NAM Implications:
- The advantages re womens’ shaving market are obvious.
- But this coupled with Billie’s DTC expertise…
- …could help Edgwell enhance its Wilkinson and Schick DTC capability.
