Edgewell Personal Care Company boosts women’s shaving portfolio with Billie acquisition
01 Dec 2021 --- Edgewell Personal Care Company has acquired Billie, a US-based consumer brand company that offers a broad portfolio of personal care products for women. The deal closed in an all-cash transaction at a purchase price of US$310 million, subject to customary adjustments.
“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,” remarks Rod Little, Edgewell president and CEO.
“Edgewell has been a strategic supplier to Billie since its inception, and we view this acquisition as a natural evolution between our two companies.”
“This acquisition enhances the consumer-centric, digital capabilities of our organization and elevates our presence in the important mid-tier value segment of women’s shaving in the US. It also bolsters Billie’s ability to capitalize on significant growth opportunities by leveraging our retail distribution platform and marketing channels,” he details.
“Additionally, the acquisition provides us with an opportunity to further broaden Billie’s reach beyond razors and blades.”
Billie’s current product portfolio includes razors, shaving cream, make-up wipes, body lotion, lip balms, dry shampoo and body wash.Building beyond women’s shaving market
Founded in 2017, Billie is a fast-growing, digitally native, direct-to-consumer (D2C) brand focused on providing women with high-quality shaving and premium body care products.
Its current product portfolio includes razors, shaving cream, make-up wipes, body lotion, lip balms, dry shampoo and body wash.
Billie’s D2C and digital capabilities have underpinned its strong growth, positioning the brand well for its initial expansion into US brick-and-mortar retail in early 2022.
The Billie brand also complements and strengthens Edgewells position in the women’s shaving category, by adding to a portfolio of strong brands such as Schick Intuition, Hydro Silk and Skintimate.
Founders comment on the acquisition
The acquisition is expected to be slightly positive to Edgewell’s adjusted cash earnings per share during fiscal 2022.
Billie will continue to be led by its co-founders, Georgina Gooley and Jason Bravman.
When we started Billie, we set out to create a different kind of razor made for womankind,” comments Georgina Gooley, co-founder of Billie. “This is an exciting moment for us as we advance towards our goal of becoming the leading women’s lifestyle brand.”
Jason Bravman, co-founder of Billie, adds: “We are very excited to join the Edgewell organization and look forward to combining our resources and leveraging the Edgewell platform to accelerate growth and expand our retail reach.”
“As we begin our expansion into brick-and-mortar retail in the US, this is the perfect time for this business combination. Edgewell’s core values align with our vision, and we are looking forward to attaining greater growth as part of the Edgewell team.”
Edited by Benjamin Ferrer
