Sales: $440 million
Sales: $440 million for sun and skin care products. Corporate sales: $2.2 billion.
Key Personnel: Rod R. Little, president and chief executive officer; Daniel Sullivan, chief financial officer; John Hill, chief human resources officer; Colin Hutchison, chief operating officer; Marisa Iasenza, chief legal officer.
Major Products: Sun care, skin care and shave products sold under the brand names that include Banana Boat, Hawaiian Tropic, Schick, Wilkinson Sword, Edge, Skintimate, Personna and Wet Ones.
New Products: Banana Boat Simply Protect, Wet Ones Travel Packs, and Jack Black and Harry’s Razors (acquisitions).
Comments: Edgewell is wild about Harry’s Razors. In May, they entered into a definitive agreement under which the two companies will combine in a cash and stock transaction that valued Harry’s at $1.37 billion. The combination brings together complementary capabilities to create a next-generation consumer products platform with an expansive runway for accelerated topline growth and enhanced value creation. Together they have a leading portfolio of global brands in men’s and women’s shaving, personal, sun and skin care.
“The combination of Edgewell and Harry’s is a pivotal step forward in further transforming our organization and strengthening our competitive position and ability to drive sustained growth and value creation,” said Rod Little, Edgewell’s president and chief executive officer. “Building on Edgewell’s and Harry’s complementary strengths, our combined company will have leading brands and omni-channel capabilities that are essential to meet the needs of the modern consumer and win in today’s market environment. We welcome Harry’s entrepreneurial employees and look forward to working closely with Andy and Jeff, whose ingenuity and demonstrated success will enable us to take our U.S. business to the next level. We are excited about our future and the opportunities we have to deliver superior long-term shareholder returns as a next-generation CPG platform.”
Harry’s co-founders, Andy Katz-Mayfield and Jeff Raider, noted that when they launched Harry’s six years ago their vision was to create a grooming brand that better met their needs as consumers, and over time, a CPG platform that creates brands people love across more categories.
“Together with Edgewell, we see a significant opportunity to continue delivering on that vision, leveraging Edgewell’s advanced technology and global footprint alongside our customer-first approach, brand building expertise and omni-channel capabilities,” they said. “We’re incredibly proud of the brands we’ve created and the team we’ve built, and have tremendous respect for Edgewell and its established brand portfolio. We look forward to what we can accomplish together.”
Edgewell relies on a mix of acquisitions and NPD to compete in the global personal care sector. A little more than a year ago, the company acquired Jack Black, a line of men’s toiletries for about $90 million. The move was made to gain a foothold in the luxury men’s skin care market. The company noted that sales of sun and skin care products increased about 2% last year, helped along by acquisitions.
To manage it all, there have been changes at the top. Earlier this year, Edgewell announced that Rod R. Little was appointed president and CEO, and Daniel J. Sullivan will join to company as chief financial officer.
“Following a comprehensive search, we are pleased that Dan has agreed to join Edgewell as our next CFO,” said Little. “Dan is a highly accomplished finance executive and we look forward to benefiting from his deep experience working with leading global consumer businesses.”
For the six months ended June 30, 2019, corporate sales fell nearly 7% to just over $1 billion, but sun and skin care sales were flat at about $212 million.