Unilever to Pay $1.5 Billion for Men's Grooming Brand Dr Squatch
The private equity firm Summit Partners is selling the men's personal care brand Dr. Squatch to Unilever for $1.5 billion (1.09 billion pounds).
This action is a component of Unilever's plan to diversify its business into more upscale and rapidly expanding sectors.
Natural soap, deodorants, shampoos, and other amenities targeted at men are the specialty of the US-based company Dr. Squatch. Celebrity endorsements, viral marketing efforts, and direct-to-consumer sales have all contributed to the brand's explosive rise.
Fabian Garcia, CEO of Unilever's personal care division, commended Dr. Squatch's "shrewd digital engagement tactics" and announced intentions to take the brand global.
Dr. Squatch, which was named after the legendary beast Sasquatch and was founded in 2013 by creator and CEO Jack Haldrup, began by offering handmade bar soaps for guys.
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Deodorant, hair care products, colognes, lotions, and other personal care items are currently sold by the Los Angeles-based company both online and in physical stores.
Unilever had stated that it will expand Dr. Squatch globally and that the acquisition would enhance its men's personal care products, which include Axe and Dove Men+Care deodorants.
Magnum HoldCo would also purchase 61.9 percent of Kwality Wall's (India) Ltd., according to the multinational FMCG giant. The holding company of the new company created by the demerger of Unilever's ice cream division is Magnum HoldCo.
It is anticipated that the global ice cream business will be separated in the fourth quarter of 2025, and the new company will be called "The Magnum Ice Cream Company," according to Unilever.
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Following the completion of the India demerger, the Unilever Group is anticipated to own 61.9 percent of KWIL's issued and paid-up share capital, the company stated.
It further stated that the successful demerger of KWIL from HUL, the listing of KWIL shares, and the acquisition of the necessary statutory and regulatory permissions are among the requirements that must be met in order for the acquisition of these shares to be completed.
Additionally, in compliance with the Securities and Exchange Board of India's takeover rules, Magnum HoldCo will have to make an open offer to KWIL's public shareholders for more shares of the company.