Edgewell Personal Care has acquired Billie Inc., 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 US$310 million. The transaction has cleared under the Hart-Scott-Rodino Antitrust Improvements Act and has closed, added the company.
Direct-to-consumer brand
Founded in 2017, Billie is a fast growing, digitally native, direct-to-consumer brand focused on providing women with 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 generated US$90 million in revenue last year and has plans to expand to brick & mortar retail in 2022.
“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,” said Edgewell Personal Care in a statement.
Billie will continue to be led by its co-founders, Georgina Gooley and Jason Bravman.
Acquisition by P&G was blocked
Procter & Gamble - the owner of Gillette, Venus, Braun and joy brands - had announced the acquisition of Billie Inc. in January 2020 but had to terminate the planned merger as a result of a U.S. Federal Trade Commission complaint filed in December.
"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," said Rod Little, Edgewell President and Chief Executive Officer.
