Supplier News Breaks Archives
Energizer wraps up American Safety Razor acquisition
November 24th, 2010
ST. LOUIS – Energizer Holdings Inc. has closed its acquisition of American Safety Razor Co.
Energizer said late Tuesday that under the transaction it is acquiring substantially all of the assets of American Safety Razor for $301 million in cash and the assumption of certain liabilities. The company had obtained U.S. antitrust clearance for the deal last week and regulatory clearance from authorities in Germany and Taiwan earlier this week.
In October, Energizer had announced that it was the winning bidder for American Safety Razor in bankruptcy proceedings and had signed an agreement with the shaving products company to buy essentially all of its assets and take on certain liabilities.
American Safety Razor reported in late July that it had filed for Chapter 11 bankruptcy protection and had subsequently reached an agreement to sell the company to its first-lien creditors.
American Safety Razor is the fourth-largest manufacturer and distributor of wet shave products and is a leading supplier of private-label razors and blades. Its value-priced products are sold worldwide to mass merchandisers, drug stores and supermarkets under store brand names as well as under the company's own brands, including Magnum, X5, Matrix 3, Mystique and Personna.
Energizer is the parent company of Schick Wilkinson Sword (SWS), the second-largest global manufacturer and marketer of men's and women's wet shave products. SWS products are sold in over 140 countries, and its portfolio of products includes Hydro, Quattro, Intuition, Xtreme 3 and Protector.