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Investing.com-- Unilever PLC (LON:ULVR) (NYSE:UL) has agreed to acquire U.S.-based men’s personal care brand Dr Squatch for $1.5 billion, the Financial Times reported on Friday, citing people familiar with the deal.
The company on Monday announced the acquisition from private equity firm Summit Partners, but did not reveal the financial details of the deal.
Dr Squatch, known for its natural soaps, deodorants and shampoos, sells its products directly to consumers online and through third-party retailers. The brand has gained traction with viral ad campaigns and celebrity endorsements, including actors Sydney Sweeney and Mike Tyson.
Unilever said the acquisition would help expand its premium personal care offerings globally.
The move comes as Unilever shifts focus from slower-growth food brands toward higher-margin personal care. It follows its 2023 exit from Dollar Shave Club, a previous foray into male grooming.