Edgewell Personal Care Company has entered into a definitive agreement to sell its feminine care business to Essity.WHO: Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names. The company has a broad global footprint and operates in more than 50 markets, including the US, Canada, Mexico, Germany, Japan, the UK, and Australia, with approximately 6,700 employees worldwide. Edgewell's feminine care business includes Playtex, Stayfree, Carefree, and o.b.Essity is a global hygiene and health company with products, solutions, and services used by a billion people around the world every day. Sales are conducted in approximately 150 countries under the leading global brands TENA and Tork, and other strong brands such as Actimove, Cutimed, JOBST, Knix, Leukoplast, Libero, Libresse, Lotus, Modibodi, Nosotras, Saba, Tempo, TOM Organic, and Zewa. The company's headquarters are in Stockholm, Sweden, and Essity is listed on Nasdaq Stockholm.WHY: The transaction streamlines Edgewell's portfolio and allows the personal care brand to focus on areas of competitive leadership. Edgewell intends to use the net proceeds from the sale, after taxes and transaction costs, primarily to strengthen its balance sheet while continuing to invest in the long-term growth of its core businesses.IN THEIR OWN WORDS: "This transaction marks a pivotal step in Edgewell's transformation. By selling our Feminine Care business to Essity, we are sharpening our focus on our core categories, strengthening our financial position, and positioning Edgewell for sustainable, long-term growth," said Edgewell President and CEO Rod Little.