Energizer Holdings acquires S.C. Johnson shave business
ST. LOUIS Energizer Holdings is expanding its shave business by acquiring from S.C. Johnson & Son the Edge and Skintimate brands for $275 million.
“We are very exciting about combining the Edge and Skintimate brands with our Schick-Wilkinson Sword shaving business, strengthening both in the process,” stated Ward Klein, CEO. “As leading brands in the U.S. men’s and women’s shave preparation category, Edge and Skintimate are a logical and attractive adjacency for our shaving business.”
Under certain circumstances, Energizer may elect to issue to S.C. Johnson, in lieu of cash payment of the purchase price, shares on non-voting redeemable preferred stock, with a liquidation preference of $310 million, and semi-annual dividends.
The acquisition is subject to customary conditions and regulatory approval.
Fusion Brands announces retirement of CEO
NEW YORK Fusion Brands Inc., the manufacturer of LipFusion lip plumper under its FusionBeauty brand, has announced the retirement of CEO Randi Shinder and the sell of her remaining equity in the company.
Majority shareholder, Eugene Melnyk, has agreed to acquire Shinder’s remaining stake in the company for an undisclosed amount, making him the sole owner of Fusion Brands Inc. and Fusion Brands International.
“After eight memorable years as founder and CEO of Fusion Brands Inc., I have decided to sell my remaining equity and take a well deserved break to spend more time with my family,” stated Shinder. “This was a deeply personal decision that took months of contemplation. One of the hardest aspects of my decision was knowing I will be leaving a great team at Fusion Brands, as well as so many supportive industry colleagues that have been integral to my success.”
The company is in the process of appointing a new CEO and expects to make an imminent announcement on Shinder’s successor.
Melnyk acquired a 55% interest in Fusion Brands Inc. and Fusion Brands International in August 2006. Fusion Brands is responsible for the research and development, manufacturing, sales and marketing of the FusionBeauty and Clean product lines, which includes bath and body products as well as home fragrance.
“Randi is an exceptional entrepreneur who took Fusion Brands from a concept and in less than a decade transformed it into an industry leader,” stated Melnyk. “On behalf of the entire team at Fusions Brands, I want to thank Randi for her leadership and congratulate her on the many corporate achievements and industry awards that are a true reflection of her personal drive, determination and creativity.”
SC Johnson may be looking to cut shaving business
NEW YORK SC Johnson may be looking to sell its shaving business, which includes the Edge and Skintimate brands, according to a Financial Times report.
According to the report, people with knowledge of the sale process say the business could be valued at about $200 million and, while a range of potential buyers have expressed an interest, Energizer Holdings could be the likely buyer.
A spokeswoman for SC Johnson said it does not publicly discuss such matters.
Meanwhile, an Energizer spokesperson said the company does not comment on rumors or speculation, the Financial Times reported.
Energizer’s personal care division offers a range of consumer products in the wet shave, skin care feminine care and infant care categories. The company’s portfolio includes such brand names as Schick and Wilkinson Sword men’s and women?s shaving systems and disposable razors.