Unilever To Acquire Men's Personal Care Brand Dr. Squatch From Summit Partners

(RTTNews) - Consumer goods major Unilever plc (UL, ULVR.L) announced Monday it has signed an agreement to acquire men's personal care brand Dr. Squatch from growth equity firm Summit Partners. The terms of the deal were not disclosed.

The complementary acquisition marks another step in expanding Unilever's portfolio towards premium and high growth spaces.

Dr. Squatch, through its retail and direct-to-consumer model, sells natural, high-performance personal care products including natural soaps and body washes, deodorants, hair care, skin care, and other men's grooming products with unique scents and quality ingredients.

Dr. Squatch is distributed through digital commerce, retail and direct-to-consumer channels, primarily in North America and Europe.

The transaction is expected to close later this year, subject to customary regulatory approvals and closing conditions.