Unilever Buys Dr. Squatch for $1.5 Billion to Boost Men’s Grooming Portfolio

Unilever PLC (NYSE:UL) ranks among the best FMCG stocks to buy. On June 23, Unilever PLC (NYSE:UL) declared that it has signed an agreement to purchase Dr. Squatch, a personal care brand, from growth equity firm Summit Partners. Unilever is paying $1.5 billion (1.09 billion pounds) for the deal, according to the Financial Times.

Unilever Buys Dr. Squatch for $1.5 Billion to Boost Men’s Grooming Portfolio

Dr. Squatch is a personal care brand that specializes on natural grooming products for men. The brand has reached millions of people through retail and direct-to-consumer channels on account of its natural, high-performing personal care products. As previously stated, Unilever PLC (NYSE:UL) plans to expand Dr. Squatch internationally and employ the acquisition to enhance its men’s personal care products, which include Axe and Dove Men+Care deodorants.

Unilever PLC (NYSE:UL) is a British multinational fast-moving consumer goods corporation formed through the combination of British soap manufacturer Lever Brothers and Dutch margarine producer Margarine Unie. The company owns a diversified portfolio of popular brands, which include the likes of Ben & Jerry’s, Dove, Hellmann’s, Knorr, Lux, Magnum, Sunsilk, and Wall’s.

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