Several months ago, Edgewell Personal Care announced a plan to purchase Harry's, including the new razor plant Harry's built in Germany. The plan was approved by both companies. However, since Edgewell produces Personna, Schick, and Wilkinson Sword Classic among their various brands, the US Federal Trade Commission sued to block the sale on the grounds that the combined company would reduce competition in the razor blade market with potential higher prices for consumers. Edgewell has decided that fighting the lawsuit in court would be too costly. Thus, plans for the buyout have been scrapped.
Apparently, Edgewell stockholders are pleased at the announcement, their stock climbed significantly. Although Harry's has experienced significant growth, they have been losing money. Harry's is not pleased with Edgewell dropping their buyout plans.
Around the same time as the the earlier announcement of the buyout, Edgewell announced they would be closing the Personna manufacturing plant in Bethlehem, Israel. Presumably, this was part of reorganization plans to consolidate following the acquisition of the Harry's plant in Germany. However, now that this will not be occurring, I wonder what will happen with the plant in Israel. Since one of my favorite blade brands, Personna Israeli Reds, is made in the Bethlehem plant, I rather hope that it keeps operating.
Apparently, Edgewell stockholders are pleased at the announcement, their stock climbed significantly. Although Harry's has experienced significant growth, they have been losing money. Harry's is not pleased with Edgewell dropping their buyout plans.
Around the same time as the the earlier announcement of the buyout, Edgewell announced they would be closing the Personna manufacturing plant in Bethlehem, Israel. Presumably, this was part of reorganization plans to consolidate following the acquisition of the Harry's plant in Germany. However, now that this will not be occurring, I wonder what will happen with the plant in Israel. Since one of my favorite blade brands, Personna Israeli Reds, is made in the Bethlehem plant, I rather hope that it keeps operating.