ST. LOUIS, Jan. 18, 2018 /PRNewswire/ -- Edgewell
Personal Care Company (NYSE: EPC) announced today an agreement to
acquire Jack Black, L.L.C., a leading U.S. based luxury men's
skincare products company.
Founded in Dallas, TX in 2000,
Jack Black was an early pioneer and innovator in the growing men's
skincare industry and today is the #1 brand in the U.S. men's
prestige skincare market.* Addressing men's every day
personal care needs, the brand offers a full range of products
including skincare, body care, shaving, hair care, fine fragrance,
razors, and gift sets.
Jack Black's largest markets are in the U.S. and Canada, where it is a top selling brand at
retailers such as Nordstrom, ULTA Beauty, Neiman Marcus, Bloomingdale's, Dillard's and
Sephora. Additionally, Jack Black boasts industry-leading
eCommerce growth and penetration via the online platforms of its
prestige retail partners, Amazon Luxury Beauty, and its own
website, getJackBlack.com.
"As a challenger company in men's grooming, Edgewell has
continuously pressed beyond category conventions to bring unique
solutions and innovation, such as Schick Hydro and Bulldog
skincare, to satisfy men's everyday grooming needs," said
Colin Hutchison, Edgewell's Chief
Operating Officer. "Similarly, Jack Black is a breakthrough brand,
driving the growth of the luxury men's category through product
innovation and cultivation of a highly engaged, loyal and growing
customer base. The Jack Black brand is a strong and complementary
addition to Edgewell's portfolio based on its unique brand
positioning, prestige channel footprint, and product
assortment. This acquisition creates opportunities to expand
our personal care portfolio in growing categories in the U.S. and
globally, while nurturing the strong brand equity that the Jack
Black founders have developed."
"We are delighted to be joining Edgewell's family of brands.
This is an excellent home for Jack Black, and we look forward to
continuing to drive strong growth in North America and expanding our global
presence," said Curran Dandurand,
CEO of Jack Black. "We've built our leadership position in the U.S.
by providing superior skin care products using the best
ingredients, that work as advertised, and are never tested on
animals. We're very excited about the future and about sharing our
products with more people throughout the world."
Terms of the transaction were not disclosed. The
transaction is expected to close in the second quarter of
2018. The acquisition is subject to customary closing
conditions, including U.S. antitrust clearance. The
transaction will be funded from operating cash and is expected to
be EPS neutral in fiscal 2018. Edgewell will discuss the
acquisition in further detail on its earnings call scheduled for
February 8, 2018.
Moelis & Company served as financial advisor to
Edgewell.
Piper Jaffray & Co. served as
financial advisor to Jack Black, L.L.C.
*Source: The NPD Group, Inc./Beauty Trends® US Prestige Skincare
Retail Dollar Sales, January 2016-December
2016.
About Edgewell Personal Care
Edgewell is a leading pure-play consumer products company with
an attractive, diversified portfolio of established brand names
such as Schick® and Wilkinson Sword® men's and women's shaving
systems and disposable razors; Edge® and Skintimate® shave
preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine
care products; Banana Boat® and Hawaiian Tropic® sun care products;
Playtex® infant feeding, Diaper Genie®; Bulldog® male skincare and
grooming products; and Wet Ones® moist wipes. The Company has
a broad global footprint and operates in more than 50 markets,
including the U.S., Canada,
Mexico, Germany, Japan and Australia, with approximately 6,000 employees
worldwide.
About Jack Black, L.L.C.
Founded in Dallas, TX in 2000
by Curran Dandurand, Jeff Dandurand and Emily
Dalton, Jack Black, L.L.C. is the leading provider of men's
prestige grooming and skin care products. Jack Black products
are created with a simple commitment to our customers: Nothing
complicated. Nothing cosmetic. Just superior skincare.
Fragrance-free, colorant-free, cruelty-free, sulfate-free, and
dermatologist-tested, Jack Black products take an honest, effective
approach to helping you look and feel your best.
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SOURCE Edgewell Personal Care