ST. LOUIS, Feb. 20, 2015 /PRNewswire/ -- Energizer Holdings, Inc. (NYSE: ENR) today announced the names of each of the two new companies upon separation, which is targeted for completion by July 1, 2015. The Personal Care Division will be named Edgewell Personal Care upon its separation to become an independent company. The Household Product Division will retain the Energizer Holdings, Inc. name and logo.
"Edgewell" is a newly coined word created by combining two familiar terms. "Edge" expresses the company's drive to be on the leading edge of innovation and to deliver meaningful advantages over competitive products. It also evokes the rich heritage of the company's largest global business: shaving, which is literally about putting an edge on blades. "Well" reflects the company's ultimate goal as a Personal Care business: to deliver well-being for the people who use its products. Furthermore, it speaks to a commitment that everything created will be well-designed and well-made.
"Together, these words form the perfect name for our new company: Edgewell Personal Care, the innovative challenger in the world of personal care products," said David Hatfield, Chief Executive Officer of Energizer's Personal Care Division.
The Edgewell logo will be accompanied by a hummingbird symbol in a fresh aqua blue with clean, modern lines. As alluded to by its name, Edgewell intends to continue Energizer's legacy as a challenger brand. The hummingbird is the ultimate challenger of the natural world: fast and agile, smaller than some, but strong and resourceful. And, like Edgewell's brands, the hummingbird surprises and delights, making people feel good.
"It's an emotionally engaging symbol that expresses our values, and it will help us to stand apart from the more traditional corporate logos in our industry," said Al Robertson, Global Chief Marketing Officer of the Energizer Personal Care Division.
The company also announced today that the Household Products Company will keep the Energizer Holdings, Inc. name and logo, retaining the legacy and value of the holding company's flagship brand.
"We're proud to carry forward our iconic Energizer name, building upon that rich heritage as we strive to deliver long-term value for our colleagues, customers and owners," said Alan Hoskins, Chief Executive Officer of Energizer's Household Products Division.
The Transition to Edgewell and the New Energizer
Separation activities are well underway and are expected to be completed on July 1st, 2015. Until that time, Energizer Holdings, Inc. will continue to operate under its current name and stock trading symbol. Edgewell Personal Care has reserved the stock symbol EPC on the New York Stock Exchange, while Energizer Holdings, Inc. will maintain the symbol ENR on the New York Stock Exchange. Both will begin trading under these symbols upon completion of separation. Shareholders will not be required to take any action with respect to the name change. Outstanding stock certificates will not be affected by the name change and will not need to be exchanged.
Energizer Holdings, Inc. is a consumer goods company operating globally in the broad categories of personal care and household products. The Personal Care Division offers a diversified range of consumer products in the wet shave, skin care, feminine care and infant care categories with well-established 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; Playtex® infant feeding, Diaper Genie® and gloves; Banana Boat® and Hawaiian Tropic® sun care products; and Wet Ones® moist wipes. The Household Products Division offers consumers a broad range of household and specialty batteries and portable lighting products, anchored by the universally recognized Energizer® and Eveready® brands. The company markets its products throughout most of the world. Energizer Holdings, Inc. is traded on the NYSE under the ticker symbol ENR.
On April 30, 2014, Energizer Holdings announced plans to divide and create two independent, publicly traded companies:
New Household Products, a leading consumer products company with annual revenue of approximately $1.8 billion in the fiscal year ending September 30, 2014, offering strong margins and significant cash flows anchored by its two globally recognized battery brands.
New Personal Care (Edgewell): a leading pure-play personal care company with annual revenue of approximately $2.6 billion in the fiscal year ending September 30, 2014, offering top-line growth and capital return through a large portfolio of global brands with #1 or #2 positions in their categories.
This press release contains both historical and forward-looking statements. Words, and variations of words such as "planned," "will," "expected," and similar expressions are intended to identify our forward-looking statements, including but not limited to our plan to create two independent public companies; timing of separation, and expectations for each new company. These forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause our actual results to differ materially from those indicated by these statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. The forward-looking statements included in this document are only made as of the date of this document and we disclaim any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including, without limitation:
- Whether the separation of the Household Products and Personal Care businesses is completed, as expected or at all, and the timing of any such separation;
- Whether the conditions to the separation can be satisfied;
- Whether the operational, marketing and strategic benefits of the separation can be achieved;
- Whether the costs and expenses of the separation can be controlled within expectations;
- General market and economic conditions;
- Market trends in the categories in which we operate;
- The success of new products and the ability to continually develop and market new products;
- Our ability to attract, retain and improve distribution with key customers;
- Our ability to continue planned advertising and other promotional spending;
- Our ability to timely execute strategic initiatives, including restructurings, in a manner that will positively impact our financial condition and results of operations and does not disrupt our business operations;
- The impact of strategic initiatives, including the planned separation as well as restructurings, on our relationships with employees, customers and vendors;
- Our ability to maintain and improve market share in the categories in which we operate despite heightened competitive pressure;
- Our ability to improve operations and realize cost savings;
- The impact of foreign currency exchange rates and currency controls, particularly in Venezuela and Argentina, as well as offsetting hedges;
- The impact of raw material and other commodity costs;
- The impact of change in accounting position as it relates to the selection of the applicable Venezuelan translation rate;
- Goodwill impairment charges resulting from declines in profitability or estimated cash flows related to intangible assets or market valuations for similar assets;
- Costs and reputational damage associated with cyber-attacks or information security breaches;
- Our ability to acquire and integrate businesses, and to realize the projected results of acquisitions;
- The impact of advertising and product liability claims and other litigation;
- Compliance with debt covenants and maintenance of credit ratings as well as the impact of interest and principal repayment of our existing and any future debt; or
- The impact of legislative or regulatory determinations or changes by federal, state and local, and foreign authorities, including taxing authorities.
In addition, other risks and uncertainties not presently known to us or that we consider immaterial could affect the accuracy of any such forward-looking statements. The list of factors above is illustrative, but by no means exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Additional risks and uncertainties include those detailed from time to time in Energizer's publicly filed documents, including its annual report on Form 10-K for the year ended September 30, 2014 and our quarterly report on Form 10-Q for the period ending December 31, 2014.
SOURCE Energizer Holdings, Inc.