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September 4, 2020

Shelton company finalizes purchase of men’s grooming biz

PHOTO | Courtesy Cremocompany.com
By Michelle Tuccitto Sullo

Shaving product giant Edgewell Personal Care Co. has acquired CREMO company, which makes luxury men’s grooming products.

Edgewell officials announced the closing on Thursday. It follows the U.S. Federal Trade Commission’s Aug. 26 approval of the transaction. 

Edgewell, which is based in Shelton, indicated earlier this year that it had entered into an agreement to buy the California company for $235 million. 

Rod Little, Edgewell's president and chief executive officer, said the acquisition adds “one of the strongest and most rapidly expanding brands in men’s grooming” to Edgewell’s portfolio.

“The men's grooming category remains a strategic focus for Edgewell and this acquisition will help us accelerate growth and strengthen our position in the fastest growing categories in men's grooming," Little said in an announcement.

CREMO offers a line of products for men, including beard, hair, body and skin products, from shaving creams to soap to cologne. 

Edgewell makes Schick and Wilkinson Sword men's and women's shaving systems and disposable razors, and Edge and Skintimate shave preparations, in addition to other personal care products.

Edgewell Personal Care Co. offices in Shelton.

CREMO’s leadership expects the deal to boost its store presence and geographic expansion.

Earlier this year, Edgewell abandoned its plans to acquire shaving competitor Harry’s Inc. for $1.37 billion after the FTC filed litigation to block the acquisition.

Perella Weinberg Partners LP acted as financial advisor, and Wachtell Lipton Rosen & Katz acted as legal counsel to Edgewell on the CREMO transaction.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

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