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Unilever has announced its intention to acquire the men's personal care brand Dr. Squatch from private equity firm Summit Partners for $1.5 billion. This acquisition, reported by the Financial Times, aims to enhance Unilever's existing portfolio of men's grooming products, which includes popular brands like Axe and Dove Men+Care.
Dr. Squatch, founded in 2013 by Jack Haldrup, initially gained popularity by selling handmade bar soaps targeted at men. Over the years, the Los Angeles-based company has expanded its product line to include deodorants, hair care items, colognes, and lotions, available through its website and various retail outlets.
While the deal was announced earlier this week, specific financial details were not disclosed by Unilever or Summit Partners. Reports indicate that Summit was previously exploring a sale of Dr. Squatch at a valuation exceeding $2 billion, suggesting that the final acquisition price may reflect strategic negotiations.
Unilever has expressed confidence that the addition of Dr. Squatch will not only complement its current offerings but also allow for international scaling of the brand. The acquisition aligns with Unilever's strategy to strengthen its position in the men's personal care market, catering to a growing consumer demand for specialized grooming products.
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