Unilever PLC (LSE:ULVR) has reached an agreement to purchase the U.S.-based men’s personal care company Dr Squatch in a deal valued at approximately $1.5 billion, according to sources cited by the Financial Times on Friday.
The acquisition was initially announced by Unilever on Monday, following negotiations with private equity firm Summit Partners, which previously owned Dr Squatch. However, Unilever did not disclose the purchase price at that time.
Dr Squatch is recognized for its line of natural grooming products, including soaps, deodorants, and shampoos, which it markets directly to consumers through its online platform as well as via third-party retailers. The brand’s rapid growth has been fueled by viral advertising campaigns and endorsements from high-profile celebrities such as Sydney Sweeney and Mike Tyson.
Unilever stated that the acquisition aligns with its strategy to broaden its premium personal care portfolio on a global scale. This move reflects the company’s ongoing shift away from slower-growing food divisions to focus more on personal care brands with higher profit margins. It also follows Unilever’s 2023 decision to exit the male grooming space by selling Dollar Shave Club.
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