Schick Owner Buys Harry’s in New Shaving War Alliance

Comic-Con attendees are treated to customized shaves by professional barbers at the Schick Hydro Underground shave station at the Assassin's Creed Experience at Comic-Con in San Diego, Calif. on July 9, 2015. Araya Diaz/Getty Images for Schick Hydro

NEW YORK—If you can’t beat them, join them.

The owner of Schick razors is acquiring upstart shaving company Harry’s for $1.37 billion, continuing a trend of consolidation in the shaving industry, where established brands have struggled with the rise of digital-savvy newcomers. About 79% of the deal is cash, and the remainder stock.