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August 4, 2020

Shaving giant plans to buy men’s grooming company 

PHOTO | Courtesy CREMO
By Michelle Tuccitto Sullo

Edgewell Personal Care Co., a Shelton-based business known for its shaving and personal care products, has entered into an agreement to buy CREMO, a men’s grooming company, for $235 million. 

CREMO offers a line of products for men, including beard, hair, body and skin products, from shaving creams to cologne. 

Edgewell is the company behind personal care products such as Schick and Wilkinson Sword men's and women's shaving systems and disposable razors, Edge and Skintimate shave preparations, and the Bulldog and Jack Black sun and skin care products.

The all-cash deal is expected to close early next year, subject to customary closing conditions.

According to Edgewell, the acquisition will complement its portfolio of men’s grooming brands.

Rod Little, Edgewell's president and CEO, said the men’s grooming category is a strategic focus for the company.

“This acquisition will help us accelerate growth and strengthen our position in the fastest growing categories in men's grooming,” Little said in an announcement. “We are acquiring a profitable, growing business with an established presence that is well diversified across grooming categories, yet has significant opportunities for expansion.”

Matthew Biggins, CREMO president and CEO, said the deal is expected to bolster his company’s store presence in the United States and position it to expand geographically. 

“We are excited to join the Edgewell global brand portfolio and look forward to leveraging our compelling brand and social media presence with the benefit of Edgewell's platform and demonstrated capabilities in the grooming category," Biggins said. 

Earlier this year, Edgewell abandoned its plans to acquire shaving competitor Harry’s Inc. after the U.S. Federal Trade Commission filed litigation to block the acquisition.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

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