Schick Razor Maker Prioritizes Paying Down Debt Over Buying New Brands
- Edgewell is looking to lower its net debt relative to Ebitda
- Plans to use ‘meaningful’ part of cash to pay debt this year
Schick brand razors.
Photographer: Daniel Acker/Bloomberg
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Edgewell Personal Care Co., the maker of Schick razors, is looking to reduce its debt as cost pressures weigh on the business.
Bringing down debt is taking priority over pursuing acquisitions, Chief Financial Officer Dan Sullivan said in an interview. The Banana Boat sunscreen owner plans to use a “meaningful” portion of the $150 million in cash it expects to generate during the remainder of its current fiscal year to whittle down debt.