Dollar Shave Club is acquired by Unilever
California-based male grooming company, Dollar Shave Club, has been acquired by the Anglo-Dutch consumer goods business Unilever.
The DSC was founded in 2012, and now boasts 3.2 million members, with a predicted 2016 turnover of $200 million.
The company’s product range extends beyond shaving to include wash items, skin care, hair styling, can cleansing wipes, significantly enhancing Unilever’s male grooming offering.
Kees Kruythoff, President of Unilever North America, said: “Dollar Shave Club is an innovative and disruptive male grooming brand with incredibly deep connections to its diverse and highly engaged consumers. 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.”
Michael Dubin, Founder and CEO of Dollar Shave Club, 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.”
Dubin will continue to serve as CEO of DSC.
Subject to regulatory approval, the transaction is expected to close during the third quarter.
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