Edgewell Personal Care Company has announced the acquisition of Billie, a leading U.S. based consumer brand company that offers a broad portfolio of personal care products for women, in an all-cash transaction at a purchase price of $310 million, subject to customary adjustments. The transaction has cleared under the Hart-Scott-Rodino Antitrust Improvements Act and has closed.
Founded in 2017, Billie is a fast growing, digitally native, direct-to-consumer brand focused on providing women with high-quality shaving and premium body care products. Its current product portfolio includes razors, shaving cream, make up wipes, body lotion, lip balms, dry shampoo and body wash. Billie’s strong direct-to-consumer and digital capabilities have underpinned its strong growth, positioning the brand well for its initial expansion into U.S. brick-and-mortar retail in early 2022. The Billie brand complements and strengthens Edgewell’s position in the women’s shaving category, by adding to a portfolio of strong brands such as Schick Intuition, Hydro Silk and Skintimate. Billie will continue to be led by its co-founders, Georgina Gooley and Jason Bravman.
Rod Little, Edgewell President and Chief Executive Officer said, “We are thrilled to add Billie to our portfolio of brands. We are focused on our stated goal of building on our leading position in the women’s shave category and executing on our M&A strategy with discipline and precision, both of which this acquisition accomplishes. Edgewell has been a strategic supplier to Billie since its inception, and we view this acquisition as a natural evolution of the partnership between our two companies. This acquisition immediately enhances the consumer-centric, digital capabilities of our organization and elevates our presence in the important mid-tier value segment of women’s shaving in the U.S., while bolstering Billie’s ability to capitalize on significant growth opportunities by leveraging our retail distribution platform and marketing channels. Additionally, the acquisition provides us with a unique opportunity to further broaden Billie’s reach beyond razors and blades.”
Jason Bravman, co-founder of Billie said, “We are very excited to join the Edgewell organization and look forward to combining our resources and leveraging the Edgewell platform to accelerate growth and expand our retail reach. As we begin our expansion into brick-and-mortar retail in the US, this is the perfect time for this business combination. Edgewell’s core values align with our vision for the brand, and we are looking forward to attaining even greater growth as part of the Edgewell team.”
Georgina Gooley, co-founder of Billie added, “When we started Billie, we set out to create a different kind of razor made for womenkind. We look forward to combining our disruptive and digital-first approach with Edgewell’s leading platforms, capabilities and channels to drive future growth and meet the evolving needs of our loyal customers. This is an exciting moment for us as we advance towards our goal of becoming the leading women’s lifestyle brand.”