Unilever Expands Personal Care Portfolio With Acquisition of Dr. Squatch

Unilever’s personal care division is continuing its acquisition spree.

After snapping up British deodorant brand Wild, it has signed an agreement to acquire men’s personal care and grooming brand Dr. Squatch from private equity firm Summit Partners.

The terms of the deal were not disclosed, but the brand’s sales are understood to be in excess of $400 million.

Of the deal, 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 U.S., we are excited to scale the brand internationally and complement our offering in the fast-growing men’s personal care segment.”

Josh Friedman, chief executive officer of Dr. Squatch, added: “Our mission at Dr. Squatch is to inspire and educate men to be happier and healthier, and we’re excited about our ability to amplify our brand and mission in this next chapter with Unilever. We’re just getting started at Dr. Squatch, and 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 brand was founded in 2013 in California by Jack Haldrup with handmade soaps, before expanding into deodorant, hair care, colognes and more. In 2019, it raised a seed round and in 2022, Summit Partners took a majority stake in the business. According to various reports, it has been exploring sale options for around a year, hoping for a $2 billion valuation.

Most recently, it has partnered with celebrities including Sydney Sweeney and Nick Cannon and debuted a Super Bowl ad in 2024. It is distributed through digital commerce, retail and direct-to-consumer channels, primarily in North America and Europe.

In April, Unilever acquired Wild for a reported 230 million pounds. Wild was founded in 2020, with deodorant in reusable aluminum cases and biodegradable refills. It subsequently expanded its range to include body wash, hand wash and lip balms, all featuring refillable packaging.

But as it snaps up new brands, Unilever has also been shuttering or divesting others.

In May, it closed Ren Clean Skincare, blaming a combination of “internal factors, compounded by market challenges. And last summer, Yellow Wood Partners completed the acquisition of Elida Beauty brands from Unilever, which included Q-tips, Caress, Ponds and St. Ives.

CEO Fernando Fernandez has also outlined plans to offload underperforming food brands.