Unilever has signed an agreement to acquire men’s soap and personal care brand Dr. Squatch from growth equity firm Summit Partners.
The financial details of the deal were not disclosed, but media reports last year speculated that the private equity fund was considering a sale, with a potential valuation of around USD 2 billion.
The operation follows the GBP 230 million acquisition of British refillable personal care brand Wild by Unilever in April.
Unilever plans to leverage its global capabilities to support the brand’s international expansion.
“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,” commented Fabian Garcia, President of Unilever Personal Care.
Founded in 2013 in San Diego and now based in Los Angeles, Dr. Squatch is distributed through digital commerce, retail and direct-to-consumer channels, primarily in North America and Europe. The brand offers natural personal care products including soaps and body washes, deodorants, hair care, skin care, and other men’s grooming products. The brand’s sales have soared in recent years to exceed USD 400 million in 2024.
The brand’s 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.
“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,” said Josh Friedman, CEO of Dr. Squatch.
The transaction is expected to close later this year, subject to customary regulatory approvals and closing conditions.
Amid pressure from activist investors, including American billionaire Nelson Peltz, to revive growth, Unilever is actively reshuffling its portfolio. The group is undergoing a major overhaul, which includes cutting around 7,500 jobs and spinning off its ice cream division into a standalone business.
In May, the consumer goods giant has announced it would stop trading its clean beauty brand REN by the end of Q3 2025, ten years after its acquisition.
