PRESS: Unilever pays $1.5 billion for personal care brand Dr Squatch
Unilever PLC is paying $1.5 billion for its acquisition of Dr Squatch, a maker of male grooming products, the Financial Times reported on Friday.
The London-based consumer products firm had announced the purchase from private equity investor Summit Partners on Monday but hadn’t disclosed any financial terms.
Citing ‘several people familiar with the details’ for the amount paid by Unilever, the newspaper noted that Dr Squatch constituted another big bet on male grooming products after the company paid $1 billion to buy Dollar Shave Club back in 2016, only to sell it again in 2023.
Unilever on Monday said the acquisition of Dr Squatch ‘marks another step in expanding Unilever’s portfolio towards premium and high growth spaces’.
Los Angeles, California-based Dr Squatch sells natural soaps and body washes, deodorants, hair care, skin care, and other men’s grooming products with scents such as ’pine tar’ and ’wood barrel bourbon’. The products are sold online direct-to-consumer and via retail outlets, primarily in North America and Europe.
Unilever said the acquisition is expected to complete later this year.
Unilever shares closed down 2.3% to 4,399.00 pence in London on Thursday. The stock is down 4.1% this week.
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