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.
About Energizer:
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.
Forward-Looking Statements:
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.
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SOURCE Energizer Holdings, Inc.