A PYMNTS Company

Schick Razor Abandons$1.37B Harry Deal After FTC Opposition

By  |  February 10, 2020

Schick razor maker Edgewell Personal Care on Monday scrapped its $1.37 billion deal for peer Harry’s after the US competition regulator sought to stop the deal.  

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Federal Trade Commission earlier this month said it would file a lawsuit to block the acquisition, arguing it would harm competition in the US shaving industry, reported The Wall Street Journal. 

    “We are disappointed by the FTC’s decision and continue to disagree with its position,” Chief Executive Officer Rod Little said in a statement.

    “Given the inherent uncertainty of a potential trial, the required investment of resources and time …, we determined that proceeding with our standalone strategy is the best course of action for Edgewell,” he said.

    The shaving market has long been dominated by Procter & Gamble, which makes Gillette brand razors, and Edgewell, which makes Wilkinson Sword and many private label razors. The market was shaken up by the entry of Harry’s and Dollar Shave Club, bought by Unilever in 2016, with their online-focused businesses.