Energizer Buys Edge

2009-05-12 | 11:03

S.C. Johnson sells shave cream for $275 million.

Energizer has a new edge. As widely reported, the company has agreed to purchase the Edge shave cream franchise from S.C. Johnson for $275 million.

"We are very exciting about combining the Edge and Skintimate brands with our Schick-Wilkinson Sword shaving business, strengthening both in the process," stated Ward Klein, CEO. "As leading brands in the U.S. men's and women's shave preparation category, Edge and Skintimate are a logical and attractive adjacency for our shaving business."

Energizer may elect to issue to S.C. Johnson, in lieu of cash payment of the purchase price, shares of non-voting redeemable preferred stock, with a liquidation preference of $310 million and semi-annual dividends.