UNILEVER ACQUIRES DOLLAR SHAVE CLUB

Global supplier of food, home and personal care products Unilever has signed an agreement to purchase men’s grooming brand Dollar Shave Club. Michael Dubin, founder and CEO of Dollar Shave Club will continue to serve as CEO.

Founded in 2012 and headquartered in Venice, California, Dollar Shave Club (DSC) has grown into a full male grooming business that has transformed the shaving category with its lifestyle brand empowering 3.2 million members. In 2015, DSC had turnover of $152 million and is on track to exceed $200 million in turnover in 2016. Terms of the transaction were not disclosed.

“Dollar Shave Club is an innovative and disruptive male grooming brand with incredibly deep connections to its diverse and highly engaged consumers,” said Kees Kruythoff, president of Unilever North America. “In addition to its unique consumer and data insights, Dollar Shave Club is the category leader in its direct-to-consumer space. We plan to leverage the global strength of Unilever to support Dollar Shave Club in achieving its full potential in terms of offering and reach.”

Dubin, added: “DSC couldn’t be happier to have the world’s most innovative and progressive consumer-product company in our corner. We have long admired Unilever’s purpose-driven business leadership and its category expertise is unmatched. We are excited to be part of the family.”

The transaction is expected to close during the third quarter subject to regulatory approval.