Benzinga | Nov 30, 2021 04:44PM EST

Edgewell Acquires Women's Personal Care Brand Billie For $310M

Edgewell Personal Care Co (NYSE:EPC) has agreed to acquire Billie Inc in an all-cash transaction at a purchase price of $310 million.

* Billie is a direct-to-consumer brand focused on providing women with shaving and body care products. Its current product portfolio includes razors, shaving cream, make-up wipes, body lotion, lip balms, dry shampoo, and body wash.

* The transaction has cleared under the Hart-Scott-Rodino Antitrust Improvements Act and has closed.

* Edgewell expects the Billie brand to complement and strengthen its position in the women's shaving category by adding to a portfolio of brands such as Schick Intuition, Hydro Silk, and Skintimate.

* Billie will continue to be led by its co-founders, Georgina Gooley and Jason Bravman.

* Edgewell expects the acquisition to be slightly positive to adjusted cash EPS during fiscal 2022.

* Edgewell financed the deal with a combination of cash on hand and revolver capacity. It held $479.2 million in cash and equivalents as of September 30, 2021.

* Price Action: EPC shares closed lower by 0.63% at $42.35 on Monday.