Unilever is acquiring men’s personal care company Dr Squatch for $1.5 billion (£1.09 billion) from private equity firm Summit Partners, according to a report by the Financial Times on Friday, citing unnamed sources.
While the acquisition was jointly announced earlier this week by Unilever, Dr Squatch, and Summit Partners, none of the parties disclosed the financial terms at the time.
On Friday, Unilever reaffirmed that it would not reveal the deal’s value, and Summit Partners did not immediately respond to a request for comment from Reuters outside regular business hours. Reuters has not independently verified the Financial Times report.
Reuters previously reported in 2023 that Summit was exploring a sale of Dr Squatch at a valuation exceeding $2 billion.
Founded in 2013 by Jack Haldrup, who remains CEO, Dr Squatch takes its name from the legendary creature Sasquatch and began by selling handmade bar soaps for men.
The Los Angeles-based brand now offers a broader range of men’s grooming products, including deodorants, hair care, colognes, lotions, and other personal care items, available both online and in retail stores.
Unilever has said that the acquisition of Dr Squatch “would complement its men’s personal care offerings, which include Axe and Dove Men+Care deodorants,” and that it plans to expand the brand internationally.
he acquisition is part of Unilever’s broader strategy to reshape its portfolio around premium, high-growth categories. The company praised Dr. Squatch’s “built-in-culture” brand identity, cultivated through viral social media campaigns and collaborations with influencers and celebrities like Sydney Sweeney.
Unilever is significantly increasing its investment in social media and influencer marketing to better connect with diverse global markets and demographics. The purchase of Dr. Squatch also marks a return to direct-to-consumer (DTC) brand acquisitions—a strategy Unilever has tried before with mixed success.
Unilever’s acquisition of Dr. Squatch reflects a renewed interest in DTC brands that have successfully captured the attention of targeted consumer segments—especially Gen Z men. Dr. Squatch, founded in 2013, offers a line of grooming products such as soaps, shampoos, and lotions made with natural ingredients, available via e-commerce, national retailers like Walmart, and subscription boxes. The brand had even been named by Unilever, which also owns Dove and Hellmann’s, as a rising competitive threat.
The DTC model offers Unilever enhanced access to first-party data—an increasingly valuable asset as brands focus on refining personalization and audience targeting. Dr. Squatch has also mastered social-first marketing, another priority for Unilever as new CEO Fernando Fernandez plans to direct 50% of the company’s ad spending to social platforms and expand its partnerships with influencers.
Dr. Squatch has become especially known for its irreverent, masculine branding, with ads filled with humor, innuendo, and celebrity cameos. One viral campaign featured Sydney Sweeney as a “Body Wash Genie” responding to men’s grooming wishes—a tongue-in-cheek stunt that included selling limited-edition soap made with some of the Euphoria star’s bathwater, highlighting the brand’s bold and unconventional marketing style.
In a statement on the acquisition, Unilever Personal Care President Fabian Garcia highlighted the brand’s digital prowess and growth potential beyond the U.S.:
“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,” said Garcia.
The Dr. Squatch acquisition also aligns with Unilever’s ongoing efforts to restructure, shedding underperforming units and zeroing in on premium verticals. The company has previously used acquisitions to modernize its portfolio, though not all have paid off.
Back in 2016, Unilever made headlines with its $1 billion acquisition of Dollar Shave Club, one of the earliest major CPG bets on the DTC model. However, the company sold a majority stake in the razor brand to private equity in 2023, reflecting the challenges of sustaining momentum in the space.
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