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Edgewell Personal Care completes sale of feminine care business for $340M

Tipranks - Tipranks - Tue Feb 3, 11:30AM CST

Edgewell Personal Care Company (EPC) completed the sale of its feminine care business to Essity (ETTYF) for $340M. Edgewell intends to use the net proceeds from the sale, after taxes and transaction costs, primarily to strengthen its balance sheet and pay down the balance of U.S. revolving credit facility while continuing to invest in the long-term growth of its core businesses. Edgewell expects to work closely with Essity to ensure a smooth transition for employees, customers, and consumers of the Feminine Care business. The Company and Essity entered into a Transition Services Agreement to provide certain support services in the areas of accounting, information technology, quality assurance, operations and supply chain, and sales for a period of at least one year from the closing of the transaction.

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