Unilever has agreed a deal to acquire men’s personal care brand Dr. Squatch from private equity firm Summit Partners for an undisclosed sum.
The consumer goods giant stated that it was a complementary acquisition that supported its drive to shift its portfolio towards “premium and high growth spaces”.
Dr. Squatch was founded in the US in 2013 as a direct-to-consumer brand, offering natural personal care products. Its portfolio spans soaps, body washes, deodorants, hair care and skin care, and other men’s grooming products.
The brand now has a growing digital and bricks & mortar retail presence in North America and Europe, with its sales exceeding $400m last year, supported by a viral social media marketing strategy, which includes partnerships with influencers and celebrities. In the UK, the Dr. Squatch range is stocked by several retailers, including Boots and Waitrose.
“I am thrilled to welcome Dr. Squatch into the Unilever family,” said Fabian Garcia, President of Unilever Personal Care.
“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.”
Josh Friedman, CEO of Dr. Squatch, added: “Our mission at Dr. Squatch 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 at Dr. Squatch, and we are thrilled about 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.”
As part of a plan to accelerate its growth, Unilever is actively moving its focus away from food towards more profitable personal care, beauty and household brands.
Last year, Unilever’s management said it planned to sell non-core food brands generating a total of €1bn of annual revenue as part of its turnaround efforts. In the past six months, the company has sold Dutch brands Conimex and Unox, as well as plant-based brand The Vegetarian Butcher. Last week, reports suggested Unilever was exploring a sale of healthy snack brand Graze.
Meanwhile, in recent years, Unilever has snapped up several fast-growing personal care and beauty brands. In April, it acquired Wild, a producer of refillable personal care products.
