ST. LOUIS Energizer Holdings emerged as the winning bidder for American Safety Razor in bankruptcy court proceedings, inking a deal to buy substantially all of ASR’s assets for $301 million in cash and the assumption of certain liabilities.
The acquisition is subject to regulatory approval. Energizer is the parent company of Schick Wilkinson Sword, the second-largest manufacturer and marketer of men’s and women’s wet-shave products in the world.
With more than 135 years of experience, ASR is the fourth-largest manufacturer and distributor of wet-shave products, and is a supplier of private-label razors and blades. Its value-priced products are sold throughout the world to mass merchandisers, drug stores and supermarkets under store brand names, as well as under ASR’s brands, including Magnum, X5, Matrix 3, Mystique and Personna.
According to Ward Klein, CEO of Energizer, the addition of ASR’s foothold in the private-label wet-shave business “provides an important strategic fit and opportunity for the Energizer personal care business.” Energizer plans to maintain and further strengthen ASR’s private-label business.