Edgewell Personal Care Company enters into a definitive purchase agreement to acquire Cremo, a men's grooming company in the U.S. Cremo offers a complete line of beard, hair, shave prep and skin care products.
Acquisition Complements Edgewell's Portfolio
The acquisition complements Edgewell's portfolio by uniquely serving specific consumer profiles, and therefore increasing Edgewell's penetration in the most attractive growth categories within
men's grooming. The transaction is aligned with Edgewell's core growth strategy of acquiring selective, fast-growing and profitable brands that increase its presence in attractive segments.
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We are acquiring a profitable, growing business with an established presence that is well diversified across grooming categories, yet has significant opportunities for expansion. We are extremely impressed with the Cremo brand and its positioning and expect it to continue to resonate over the long term with consumers. The organization's consumer-centric brand building capabilities will also be an important addition for Edgewell as we leverage the expertise of the Cremo Team," said Rod Little, Edgewell's president and chief executive officer.
Cremo to Bolster Strong Store Channel Presence
The acquisition is a significant milestone for Cremo. Combining with Edgewell provides Cremo the ability to bolster strong store channel presence in the U.S. while positioning the company to capitalize on attractive channel and geographic expansion opportunities.
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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,” said Matthew Biggins, Cremo's president and chief executive officer.
Source: Edgewell