Energizer Holdings, Inc. announced the initial filing of a Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC) in connection with the company's previously announced plan to separate its household products and personal care businesses. The separation is planned as a tax-free spin-off to the Company's shareholders and is targeted to be completed by July 1, 2015.
"The filing of the Form 10 Registration Statement is one important milestone in executing our plan to separate the Household Products and Personal Care businesses into two stand-alone companies, and we believe we're on track to complete the spin by July 1," said Ward Klein, CEO. "This separation will allow each business to pursue its own strategic focus and priorities—with household products carrying forward Energizer's legacy of iconic brands, global distribution and meaningful cash flows and personal care driving top-line and market share growth through an attractive portfolio of brands and a track record of innovation."
As previously announced, the company plans on creating two independent, publicly traded companies. The personal care business will be a pure-play consumer products company with well-established brand names—including Edge and Skintimate in shave preparation and Banana Boat and Hawaiian Tropic in sun care.
The separation remains subject to the approval of the board of directors of Energizer Holdings, Inc. and the satisfaction of certain other customary conditions, including the effectiveness of the Form 10 Registration Statement. Energizer may, at any time until the closing of the separation, decide to abandon, modify or change the terms of the separation.
A copy of the Form 10 Registration Statement is available on Energizer's investor page.