Edgewell Personal Care announced the closing of its previously announced acquisition of Cremo for $235 million.
Known for its men’s grooming products, Cremo’s portfolio ranges from beard, hair and shave prep products, as well as skin care items and fragrances.
“We are very pleased to complete the acquisition of Cremo, which adds one of the strongest and most rapidly expanding brands in men's grooming to our business,” Rod Little, Edgewell’s president and chief executive officer said. “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.”
Through the acquisition of Cremo, Edgewell looks to expand its men’s grooming offerings, which already include Jack Black and Bulldog.
“This is a significant milestone for Cremo, a brand that we built to embody quality with professional-grade characteristics. Combining with Edgewell provides us the ability to bolster our strong store channel presence in the U.S. while positioning us to capitalize on attractive channel and geographic expansion opportunities,” Matthew Biggins, Cremo’s president and chief executive officer, said. “We are excited to join the Edgewell global brand portfolio and look forward to leveraging our compelling brand and social media presence with the benefit of Edgewell’s platform and demonstrated capabilities in the grooming category.”