Unilever has announced an agreement to buy US-based personal care brand Dr Squatch for an undisclosed sum from growth equity firm Summit Partners. The deal should complete later this year.
The company said the “complementary acquisition marks another step in expanding Unilever’s portfolio towards premium and high-growth spaces”.
The retail and DTC brand is built on “natural, high-performance personal care products” including natural soaps and body washes, deodorants, hair care, skin care, and other men’s grooming products with “unique scents and quality ingredients”.
And the company was drawn to its “viral social-first marketing strategies, partnerships with influencers and celebrities, and culturally-relevant collaborations” with limited-edition packs that have “helped to drive sales and grow a loyal consumer following on social media platforms and beyond”.
Fabian Garcia, president of Unilever Personal Care said: “Dr Squatch has built a solid foundation and loyal following with highly desirable products and clever digital engagement strategies. Building on its success in the US, we are excited to scale the brand internationally and complement our offering in the fast-growing men’s personal care segment.”
And the brand’s CEO Josh Friedman added: “Our mission is to inspire and educate men to be happier and healthier, and we’re excited about our ability to amplify our brand and mission in this next chapter with Unilever. We’re just getting started… [with] the opportunity to advance the brand’s scale, reach new heights internationally, and entertain and positively connect with more consumers seeking high-quality, natural products around the world.”
The brand is distributed through digital commerce, retail and direct-to-consumer channels, primarily in North America and Europe.
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