SHELTON, Conn. — Edgewell Personal Care Company (NYSE: EPC) said August 4, 2020 that it would acquire the men’s grooming company Cremeo for an all cash price of $235 million. The skin care and beard care brand will add to Edgewell’s portfolio including Jack Black and Bulldog,
Rod Little, Edgewell’s President and Chief Executive Officer stated, “We are excited to announce this agreement to acquire CREMO. The men’s grooming category remains a strategic focus for Edgewell and this acquisition will help us accelerate growth and strengthen our position in the fastest growing categories in men’s grooming.
Matthew Biggins, CREMO’s President and Chief Executive Officer, added, “This is a significant milestone for CREMO, a brand that we built to embody quality with professional grade characteristics.
Edgewell owns the Schick and Wilkinson Sword men’s and women’s shaving brands, Edge and Skintimate shaving creams; Playtex, Stayfree, Carefree and o.b. feminine care products; Banana Boat, Hawaiian Tropic, Bulldog and Jack Black suntan products and Wet Ones moist wipes. Edgewell operates in over 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,000 employees worldwide.
Perella Weinberg Partners LP acted as financial advisor and Wachtell Lipton Rosen & Katz acted as legal counsel to Edgewell on the transaction. Goldman Sachs & Co. LLC acted as financial advisor and Latham & Watkins acted as legal counsel to CREMO.