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Energizer plans purchase of Playtex

By AP/KWMU

St. Louis – St. Louis-based Energizer plans to purchase Playtex for about $1.2 billion as the company that makes batteries, flashlights and razor blades expands its product base.

Energizer Holdings Incorporated is offering $18.30 per share in cash.

The price represents an 18 percent premium over Playtex's closing stock price yesterday.

Both boards of directors have approved the deal. Westport, Connecticut-based Playtex may be best known for the feminine care products that make up 35 percent of its net sales, but the company acquired Hawaiian Tropic in the spring.

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