Unilever to Acquire Men's Personal Care Brand Dr. Squatch
Unilever will acquire Dr. Squatch from growth equity firm Summit Partners, the company announced on Monday. Financial terms of the deal were not disclosed, though Dr. Squatch's sales are thought to be in excess of $400 million, according to a person with knowledge of the company.
Originally founded in 2013 in San Diego, Dr. Squatch is known for its playful branding, collaborations with television shows such as 'Spongebob Squarepants', and sometimes outlandish marketing campaigns — in May, it unveiled a limited edition soap it claimed was made with the bathwater of the actress and brand ambassador Sydney Sweeney. Its products, such as its $7 soaps and $13 deodorants have an emphasis on natural ingredients and are sold on its e-commerce website, as well as in retailers such as Walmart, Target, and the UK's Boots.
In a statement, Fabian Garcia, president of Unilever personal care said the brand has built a solid foundation with its digital engagement strategies in the US, and that the conglomerate would work to scale the brand internationally.
The acquisition follows another landmark deal for Unilever, which acquired the British refillable deodorant brand Wild in April. In the statement, Dr. Squatch's chief executive Josh Friedman said the brand would utilise Unilever's infrastructure.
'We're thrilled to… positively connect with more consumers seeking high-quality, natural products around the world,' he said.
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Unilever Acquires Refillable Deodorant Brand Wild
Rumours had swirled since February that the personal care giant was on track to purchase the British start-up for £230 million.
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