ST. LOUIS -- Energizer Holdings here is cutting into the shaving business with last week's purchase of Schick-Wilkinson Sword from Pfizer, New York, for $930 million in cash. Schick is the company's first venture outside the alkaline battery business. It is the No. 2 razor brand behind Gillette, Boston, which also owns Energizer's leading alkaline battery competitor, Duracell. The deal is expected to close in the first half of 2003. Energizer's opportunity to diversify its product offering "makes Energizer a little more formidable in dealing with the [retail] trade channels," said Steve Chick, analyst, JP Morgan Chase, New York. Schick has an 18% market share in the global wet-shaving market compared to 70% for Gillette, according to published reports.
