Essity Buys Edgewell's Feminine Care Business (Carefree, Stayfree, o.b., Playtex)
Global health and hygiene company Essity, which manufactures brands such as Knix, Tempo and Plenty, has completed its purchase of Edgewell Personal Care Co.'s feminine care portfolio.
The $340 million acquisition includes the brands Carefree, Stayfree and o.b. in North America and Playtex globally.
Edgewell president and CEO Rod Little said the deal will help the company reinvest in its core brands and innovation pipeline while also supporting debt reduction.
"Completing the sale of our feminine care business is a pivotal step in Edgewell's transformation. By simplifying our portfolio and focusing our resources on shave, sun and skin care, and grooming, we are positioning Edgewell to be a more focused, agile and durable personal care company," Little said in a statement.
Also: Edgewell Personal Care restructures leadership as COO departs
Ulrika Kolsrud, president and CEO of Essity, initially said that the acquisition will help support the company's strategy of focusing on high yielding categories in attractive geographies as it builds a stronger personal care business in North America.
The transaction expands Essity's presence in the feminine care category, which already includes a product portfolio of pads, liners, tampons, intimate soaps, intimate wipes, leakproof apparel and menstrual cups with regional brands such as Libresse, Bodyform, Nana, Saba, Libra and Nosotras.
The agreement includes at least one year of IT, supply chain and sales support from Edgewell as Essity transitions in the new brands.
