Unilever signs agreement to acquire Dollar Shave Club

Unilever has signed an agreement to acquire Dollar Shave Club, a male grooming business based in Venice, California.

Dollar Shave Club (DSC) had a turnover of $152m in 2015 and is on track to cross $200m this year.

The terms of the deal have not been disclosed.

Dollar Shave Club's products include Wanderer men’s personal wash products, Big Cloud men’s skincare products, Boogies hair styling products, and One Wipe Charlies daily wipes.

Unilever North America pKees Kruythoff said: “Dollar Shave Club is an innovative and disruptive male grooming brand with incredibly deep connections to its diverse and highly engaged consumers.

“In addition to its unique consumer and data insights, Dollar Shave Club is the category leader in its direct-to-consumer space. We plan to leverage the global strength of Unilever to support Dollar Shave Club in achieving its full potential in terms of offering and reach.”

Dollar Shave Club founder and CEO Michael Dubin said: “DSC couldn’t be happier to have the world’s most innovative and progressive consumer-product company in our corner.

"We have long admired Unilever’s purpose-driven business leadership and its category expertise is unmatched. We are excited to be part of the family.”

Michael Dubin will continue to serve as CEO of DSC.

Following receipt of regulatory approval, the deal is expected to close during the third quarter.