P.M. BRIEFING : Gillette Co. Strikes Deal With Swedish Match for Wilkinson

The Gillette Co. said today it agreed to buy the Wilkinson razor and blade business outside the European Community for $72 million and will take a 22.9% non-voting stake in a company acquiring Wilkinson’s EC interests.

The seller is Swedish Match, which is shedding all its disposable lighter, match and Wilkinson razor and blade business worldwide in a series of transactions worth an estimated $672 million.

Gillette said it will pay $14 million for its share in a new Dutch company that is buying the EC portion of the Wilkinson business as well as all of Swedish Match’s worldwide match and lighter business.

Wilkinson has about 2% of the U.S. blade and razor business compared with 63% for Gillette, estimated Patricia Klarfeld, spokeswoman for the American manufacturer.