An Energizer spokeswoman could not immediately be reached today regarding agency assignments, but Energizer CEO Pat Mulcahy said in a conference call today he plans to leave senior management of Schick in place and have the unit operate independently.
Schick's ad agency is WPP Group's J. Walter Thompson, New York, while Energizer's battery brands are handled by Omnicom Group's TBWA/Chiat/Day, Playa Del Rey, Calif.
Unlike the batteries category,
Schick markets Xtreme III razors and Silk Effects. And under the Wilkinson Sword brand, it manufactures ceremonial swords.
The deal has been approved by Energizer's board but still needs regulatory approval before it closes.
Pfizer had been looking to sell the non-core businesses it had acquired in its merger with Warner-Lambert Co. Pfizer in December sold its confectionary division, Adams, for $4.2 billion in cash to Cadbury Schweppes.