It looks like razor subscription business is hot! Many established brands have acquired these businesses in the past. For example, Unilever acquired Dollar shaving club, and P&G acquired Walker & Company.
Now Hary’s is being acquired by Edgewell Personal care for $1.37 B. Hary’s founded in 2013 has created its name in selling directly to the consumers. The range included razors, shower gels, face care, and Flamingo brand of women’s razors.
Edgewell Personal Care, which already owns multiple brands like Banana Boat sunscreen, Wet Ones moist wipes, and Schick razors will further be consolidating its marketing position with this acquisition.
its marketing position with this acquisition.
With the acquisition, Harry’s co-founders and co-CEOs Andy Katz-Mayfield and Jeff Raider will become co-presidents of U.S. operations for Edgewell
The combination of Edgewell and Harry’s is a crucial step forward in further transforming the organization and strengthening the competitive position and its ability to drive sustained growth and value creation. Building on Edgewell’s and Harry’s complementary strengths, the combined company will have leading brands and Omni-channel capabilities that are essential to meet the needs of the modern consumer and win in today’s market environment.
Harry’s had previously raised around $375 million in funding, according to Crunch base. The deal is expected to close by the end of the first quarter of 2020.