10.31.23
Unilever has sold the majority of Dollar Shave Club to Nexus Capital Management LP, a US-based private equity firm. Unilever will retain a minority shareholding of 35% in the men’s grooming brand that it acquired In 2016.
The transaction is expected to close this year subject to customary closing conditions.
“This marks another step in our journey to transition our portfolio towards core strategic growth areas. Dollar Shave Club has a loyal membership and following, and I am confident the brand will thrive under its new ownership and continue to serve consumers across North America and beyond,” said Fabian Garcia, President of Unilever Personal Care.
“We are thrilled to acquire Dollar Shave Club, based on its strong brand loyalty, pioneering DTC model, and omni-channel presence. We see growth potential and will invest in cutting-edge marketing, product quality and new innovations. Dollar Shave Club will also serve as a platform for additional brands with a similar DNA. We are excited to work with Dollar Shave Club employees to drive accelerated growth and welcome Unilever's continued partnership,” said Michael Cohen, partner at Nexus Capital Management.
Dollar Shave Club Interim DSC Co-CEOs Mary Jensen and Dale Brockmeyer said they were “grateful to Unilever for their support and are looking forward to a strong partnership with Nexus Capital Management.”
“Dollar Shave Club is an innovative and disruptive male grooming brand with incredibly deep connections to its diverse and highly engaged consumers,” Kees Kruythoff, then president of Unilever North America, said when it announced the deal to acquire the indie grooming brand. “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.”
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The transaction is expected to close this year subject to customary closing conditions.
“This marks another step in our journey to transition our portfolio towards core strategic growth areas. Dollar Shave Club has a loyal membership and following, and I am confident the brand will thrive under its new ownership and continue to serve consumers across North America and beyond,” said Fabian Garcia, President of Unilever Personal Care.
“We are thrilled to acquire Dollar Shave Club, based on its strong brand loyalty, pioneering DTC model, and omni-channel presence. We see growth potential and will invest in cutting-edge marketing, product quality and new innovations. Dollar Shave Club will also serve as a platform for additional brands with a similar DNA. We are excited to work with Dollar Shave Club employees to drive accelerated growth and welcome Unilever's continued partnership,” said Michael Cohen, partner at Nexus Capital Management.
Dollar Shave Club Interim DSC Co-CEOs Mary Jensen and Dale Brockmeyer said they were “grateful to Unilever for their support and are looking forward to a strong partnership with Nexus Capital Management.”
Dollar Shave: Once a Category Disruptor
Dollar Shave, when it launched as a direct-to-consumer grooming business, disrupted the shaving category. The Venice, CA-based indie company was founded in 2011. Turnover had reached $152 million by 2015, the year before Unilever acquired the brand. The CEO at the time was Michael Dubin. Dubin left the brand in 2021.“Dollar Shave Club is an innovative and disruptive male grooming brand with incredibly deep connections to its diverse and highly engaged consumers,” Kees Kruythoff, then president of Unilever North America, said when it announced the deal to acquire the indie grooming brand. “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.”
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