Unilever has continued to expand its personal care presence with the acquisition of men’s soap brand Dr Squatch.
The Dove and Lynx owner said the deal marked another step in moving its portfolio towards premium and high-growth spaces.
Unilever signed an agreement to buy Dr Squatch from private equity firm Summit Partners for an undisclosed sum. Media reports last year speculated the PE owner of the US-headquartered personal care brand was exploring a sale, with hopes of a valuation of more than $2bn.
Dr Squatch sales have soared in recent years to exceed $400m in 2024 thanks to viral marketing, including Super Bowl adverts and, most recently, a tie-up with Sydney Sweeney to produce a limited-edition soap made from the Hollywood star’s bathwater.
The brand is available in retail and DTC, with it gaining listings in the UK with 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.”
The deal follows the £230m acquisition of sustainable personal care brand Wild by Unilever in April.
Launched in 2013, Dr Squatch started out selling handmade natural bars of soap for men before expanding into wider personal care categories such as body washes, deodorants, hair care, skin care and colognes.
Dr Squatch CEO Josh Friedman 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.”
Unilever is actively shifting its focus away from food towards the higher-margin and more profitable personal care and household markets. New CEO Fernando Fernandez outlined plans to offload food businesses with combined sales of £1bn earlier this year, leading to rumours Marmite, Pot Noodle and Colman’s could be put up for auction. Last week, reports emerged suggesting Unilever was exploring a sale of snacking brand Graze.
The Dr Squatch transaction is expected to close later this year, subject to customary regulatory approvals and closing conditions.
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