Happi Staff12.19.19
Edgewell Personal Care Company, owner of Schick, Banana Boat and Hawaiian Tropic suncare, Wet Ones wipes and Jack Black skin care, has closed the sale of its infant and pet care business to Le Holding Angelcare Inc. for $122.5 million in cash. Edgewell said it will use the net proceeds from the sale to strengthen its balance sheet.
"Completing this transaction is a key step in the transformation of Edgewell's portfolio," said Rod Little, Edgewell's president and CEO. "We are making great progress reshaping the company, investing in our core brands and new growth opportunities, and realizing cost savings. On behalf of everyone at Edgewell, I want to extend our appreciation for the hard work and contributions of our Infant and Pet Care colleagues and wish them the best as they move forward under new ownership."
In connection with the closing, Edgewell and Angelcare have entered into a transition services agreement.
"Completing this transaction is a key step in the transformation of Edgewell's portfolio," said Rod Little, Edgewell's president and CEO. "We are making great progress reshaping the company, investing in our core brands and new growth opportunities, and realizing cost savings. On behalf of everyone at Edgewell, I want to extend our appreciation for the hard work and contributions of our Infant and Pet Care colleagues and wish them the best as they move forward under new ownership."
In connection with the closing, Edgewell and Angelcare have entered into a transition services agreement.