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FMCG giant Unilever has announced that the company has acquired men’s personal care brand Dr. Squatch from growth equity firm Summit Partners.
In a press release, Unilever said the addition of Dr. Squatch to the firm’s portfolio was part of its strategy to increase its number of premium and high growth products.
Dr. Squatch is described by Unilever as a “highly engaging” brand with viral marketing strategies, and which is currently selling its products through the retail and direct-to-consumer channels. The company’s range is said to feature natural “high performance” products such as soaps, body washes, deodorants, hair care items, skin care and grooming products, as well as unique fragrances and quality ingredients.
Fabian Garcia, president of Unilever personal care, said: “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”.
Josh Friedman, CEO of Dr. Squatch, added: “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”.
The terms and value of the deal were not disclosed.
Source: Unilever
