Another big CPG firm acquires another small beauty line
The owner of the Schick, Platex and Hawaiian Tropic brands is looking to leverage the growth in the men's grooming category with a big acquisition.
Edgewell Personal Care is acquiring U.S.-based skin care brand Jack Black, one of the leading men’s grooming brands in North America.
Founded in Dallas, Tex., in 2000, Jack Black was an early pioneer and innovator in the growing men's skin care industry and today is the #1 brand in the U.S.men's prestige skincare market. The brand offers a full range of products including skin care, body care, shaving, hair care, fine fragrance, razors, and gift sets.
"As a challenger company in men's grooming, Edgewell has continuously pressed beyond category conventions to bring unique solutions and innovation, such as Schick Hydro and Bulldog skincare, to satisfy men's everyday grooming needs," said Colin Hutchison, Edgewell's Chief Operating Officer. "Similarly, Jack Black is a breakthrough brand, driving the growth of the luxury men's category through product innovation and cultivation of a highly engaged, loyal and growing customer base. 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. 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."
The market for male grooming products is booming. It is projected to reach $60.7 billion by 2020, according to Euromonitor. Valued at $17.5 billion in 2015, male toiletries—which includes men’s bath and shower, deodorant, skin and hair care products—is expected to outpace that of shaving products and fragrances.
Jack Black's largest markets are in the U.S. and Canada, where it is a top selling brand at retailers such as Nordstrom, ULTA Beauty, Neiman Marcus, Bloomingdale's, Dillard's and Sephora. Additionally, Jack Black boasts industry-leading e-commerce growth and penetration via the online platforms of its prestige retail partners, Amazon Luxury Beauty, and its own website, getJackBlack.com.
"We are delighted to be joining Edgewell's family of brands. This is an excellent home for Jack Black, and we look forward to continuing to drive strong growth in North America and expanding our global presence," said Curran Dandurand, CEO of Jack Black. "We've built our leadership position in the U.S. by providing superior skin care products using the best ingredients, that work as advertised, and are never tested on animals. We're very excited about the future and about sharing our products with more people throughout the world."
Terms of the transaction were not disclosed. The transaction is expected to close in the second quarter of 2018.
The Edgewell portfolio includes brand names such as Schick and Wilkinson Sword men's and women's shaving systems and disposable razors; Edge and Skintimate shave preparations; Playtex, Stayfree, Carefree and o.b. feminine care products; Banana Boat and Hawaiian Tropic sun care products; Playtex infant feeding, Diaper Genie; Bulldog male skincare and grooming products; and Wet Ones moist wipes.