Understanding Harry’s $1.37 billion acquisition by Edgewell, the company behind Schick
It’s a bigger, different deal than Dollar Shave Club’s.
Two weeks ago, I noted — and tried to make sense of — the surprising rarity of $1 billion-plus acquisitions and IPOs among household-name new consumer brands like Warby Parker, Away, and Glossier.
It’s time to reset the clock: Harry’s, the shaving startup that’s more recently tried to fashion itself into a sort-of Procter & Gamble for the 21st Century, has a buyer. Edgewell Personal Care, the publicly held parent company of Schick and a handful of consumer brands, is acquiring New York-based Harry’s for $1.37 billion in cash and stock, the companies announced today.
It’s a big deal for many reasons. First, let’s consider the context.
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