Schick owner acquires men's skincare company, as personal care continues to garner buyer interest
Edgewell Personal Care Co. (NYSE: EPC) has reached an agreement to acquire men's skincare products provider Jack Black LLC from its founders.
Dallas-based Jack Black, founded in 2000, sells men's skincare products such as shaving creams, razors and moisturizers. Its items are sold through retailers including Sephora, Bloomingdale's and Neiman Marcus.
"The Jack Black brand is a strong and complementary addition to Edgewell's portfolio based on its unique brand positioning, prestige channel footprint, and product assortment," saus Edgewell COO Colin Hutchison. "This acquisition creates opportunities to expand our personal care portfolio in growing categories in the U.S. and globally, while nurturing the strong brand equity that the Jack Black founders have developed." St. Louis-based Edgwell is a personal care company that is known for the Hawaiian Tropic sun protection, Carefree femine care, Wet Ones wipes and Schick razor brands.
Both strategic and private equity buyers have been showing interest in skincare companies. Colgate-Palmolive Co. (NYSE: CL) bought PCA skin and EltaMD; Tengram Capital Partners reached a deal to buy skincare company RéVive. In 2016, Estée Lauder Cos. (NYSE: EL) bought skincare products company Becca Cosmetics and L'Oreal acquired IT Comestics.
Moelis & Co. (NYSE: MC) is advising Edgewell. Piper Jaffray & Co. (NYSE: PJC) is doing the same for Jack Black. Financial terms were not disclosed.