- This acquisition is seen as a step towards expanding Unilever's portfolio in premium and high growth spaces.
- Dr. Squatch offers natural, high-performance personal care products including soaps, body washes, deodorants, hair care, and skin care for men.
- Unilever plans to scale the brand internationally and further grow its presence in the men's personal care segment.
Unilever on Monday said it has signed an agreement to acquire personal care brand Dr. Squatch from growth equity firm Summit Partners.
The FMCG major said this ‘complementary’ acquisition marks another step in expanding its portfolio towards premium and high growth spaces, and follows the acquisition of personal care brand Wild in April this year.
Dr. Squatch has reached millions of people through its retail and direct-to-consumer model with 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.
The built-in-culture brand has grown to become a highly engaging men’s personal care brand. Its viral social-first marketing strategies, partnerships with influencers and celebrities, and 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 has built a solid foundation and loyal following with highly desirable products and clever digital engagement strategies,” Fabian Garcia, president of Unilever Personal Care, said. “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, chief executive of Dr. Squatch, added: “I am incredibly proud of what the Dr. Squatch team has achieved thus far. 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.”
Dr. Squatch is distributed through digital commerce, retail and direct-to-consumer channels, primarily in North America and Europe. The terms of the deal were not disclosed.
The transaction is expected to close later this year, subject to customary regulatory approvals and closing conditions.
