Shelton Company Buys Harry's Razor Company

SHELTON, CT — Shelton-based Edgewell Personal Care Company has agreed to buy shaving razor company Harry's Inc. Edgewell also owns several other shaving brands including Schick, Wilkinson Sword and Edge.

The cash and stock deal values Harry's at $1.37 billion, according to a statement from Edgewell. Harry's co-founders Andy Katz-Mayfield and Jeff Raider will become co-presidents of U.S. operations for Edgewell as part of the deal.

Harry's sells disposable razors and other shaving supplies to consumers. It owns a factory in Germany and sells directly to consumers. It is among a few companies including Dollar Shave Club that have disrupted the disposable shaving industry.

"The combination of Edgewell and Harry's is a pivotal step forward in further transforming our organization and strengthening our competitive position and ability to drive sustained growth and value creation," said Rod Little, Edgewell's resident and CEO.

Katz-Mayfield and Raider said in a joint statement that the move will allow Harry's to better serve its customers.

"We're incredibly proud of the brands we've created and the team we've built, and have tremendous respect for Edgewell and its established brand portfolio. We look forward to what we can accomplish together," they said.