The sale price of Unilever’s takeover of men’s grooming brand Dr Squatch is reported to have been $1.5bn, according to reports on Friday.
The acquisition, from growth equity firm Summit Partners, was formally announced by all three companies on Monday, but press releases did not disclose any financial details.
While Unilever has said it will not reveal the terms of the deal, the Financial Times cited “several people familiar with the details” as saying the British consumer goods giant agreed to pay $1.5bn.
Dr Squatch, known for its natural soaps, body washes and deodorants with unique scents like wood barrel bourbon, and viral marketing campaigns with influencers and celebrities, “has grown to become a highly engaging men’s personal care brand”, Unilever said.
The brand’s “culturally-relevant collaborations with limited-edition packs have helped to drive sales and grow a loyal consumer following on social media platforms and beyond”.
Dr Squatch, which is primarily distributed in North America and Europe through digital commerce, retail and D2C channels, will be scaled internationally, according to Unilever.
