Harry’s Sold for $1.37 Billion

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Harry’s Sold for $1.37 Billion

05/13/2019

Edgewell Personal Care Company and Harry's have entered into a definitive agreement under which Edgewell will combine with Harry's in a cash and stock transaction that values Harry's at $1.37 billion. The combination of Edgewell and Harry's brings together complementary capabilities to create a next-generation consumer products platform.

Together, Edgewell and Harry's will create a platform that enables building and scaling the next generation of impactful consumer brands. Harry's has been a disruptive force across the men's and women's shaving market and adjacent grooming and personal care categories. Its demonstrated expertise in brand building and direct-to-consumer marketing are a complementary fit with Edgewell's global scale and stable of strong consumer brands. The combined company will have a leading portfolio of global brands in men's and women's shaving, personal and 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 CEO. "Building on Edgewell's and Harry's complementary strengths, our combined company will have leading brands and omnichannel capabilities that are essential to meet the needs of the modern consumer and win in today's market environment."

Andy Katz-Mayfield and Jeff Raider, Harry's co-founders and co-CEOs, have agreed to join the executive team of Edgewell to serve as co-presidents of U.S. operations.

"When we launched Harry's six years ago our vision was to create a grooming brand that better met our needs as consumers, and over time, a CPG platform that creates brands people love across more categories,” Katz-Mayfield and Raider said in a prepared statement. “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 omnichannel capabilities."

About the Companies

Edgewell is a pure-play consumer products company with a diversified portfolio of established brand names such as Schick and Wilkinson Sword men's and women's shaving systems and disposable razors; Edge and Skintimate shave preparations; Playtex, Stayfree, Carefree and o.b. feminine care products; Banana Boat and Hawaiian Tropic sun care products; Playtex infant feeding; Diaper Genie; Bulldog and Jack Black male skin care and grooming products; and Wet Ones moist wipes.  The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan and Australia, with approximately 6,000 employees worldwide.

Harry's is comprised of Harry's – the company's flagship brand, founded in 2013 by Andy Katz-Mayfield and Jeff Raider – Flamingo and Harry's Labs. Harry's owns and operates its own razor factory in Eisfeld, Germany, employs more than 900 people across the U.S., U.K. and Germany, and sells products direct-to-consumers as well as in retailers nationwide.