In a strategic move, global consumer products giant Unilever has divested a majority stake in its Dollar Shave Club brand to US-based private equity firm Nexus Capital Management. While the specific terms of the deal remain undisclosed, Unilever retains a 35% minority shareholding.
Dollar Shave Club, recognized for its core razors range, offers a comprehensive array of male grooming products and has recently expanded into electric trimmers.
This divestiture aligns with Unilever’s strategic agenda, concentrating on core growth areas and power brands within its extensive portfolio.
Fabian Garcia, President of Unilever Personal Care, expresses confidence in the brand’s future, stating, «Dollar Shave Club boasts a dedicated membership and a strong following, and I am confident the brand will continue to prosper under its new ownership, catering to consumers in North America and beyond.»
Michael Cohen, Partner at Nexus Capital Management, underscores the growth potential within the brand and their commitment to invest in advanced marketing, product quality, and innovative solutions. Additionally, Dollar Shave Club is envisioned as a platform for other brands that share a similar ethos. Cohen expresses their enthusiasm for collaborating with Dollar Shave Club’s dedicated employees to drive accelerated growth, while also acknowledging Unilever’s ongoing partnership.
Interim co-CEOs of Dollar Shave Club, Mary Jensen, and Dale Brockmeyer, anticipate a robust partnership with Nexus Capital Management. They expect that the commitment to invest in this challenger brand will unlock future growth opportunities and create an inspiring work environment for their dedicated employees.