Energizer Holdings (
ENR), which ranks second after Procter & Gamble (
PG) in men's shave products, in June acquired the Edge and Skintimate shave preparation business from Johnson & Johnson (
JNJ) for an aggregate purchase price of $275 million. Through the acquisition, ENR will be adding shaving creams and gels to its Schick-Wilkinson Sword razor business.P&G is leader in the U.S. market for men's pre-shave products such as creams and gels, with a 39.2% share, followed by Edge with a 21.5% market share, according to Euromonitor International. In women's pre-shave products, Skintimate leads the market with a 65.7% share, followed by a 25.6% share of Gillette Satin Care, according to Euromonitor. Therefore, we believe the acquisition to be a strategic fit to the existing portfolio of ENR, enabling ENR to compete better with P&G.The global shaving products ...
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