Unilever sells Dollar Shave Club

Unilever has announced the sale of Dollar Shave Club to Nexus Capital Management LP, a US-based private equity firm.

In addition to its razors, Dollar Shave Club also offers a range of male grooming products, including its aerosol "Swamp Stop Ball Spray".

Fabian Garcia, president of Unilever Personal Care, said: “This marks another step in our journey to transition our portfolio towards core strategic growth areas. Dollar Shave Club has a loyal membership and following, and I am confident the brand will thrive under its new ownership and continue to serve consumers across North America and beyond.”

Michael Cohen, partner at Nexus Capital Management, said: “We are thrilled to acquire Dollar Shave Club, based on its strong brand loyalty, pioneering DTC model and omni-channel presence.

"We see growth potential and will invest in cutting-edge marketing, product quality and new innovations.

"Dollar Shave Club will also serve as a platform for additional brands with a similar DNA.

"We are excited to work with Dollar Shave Club employees to drive accelerated growth and welcome Unilever's continued partnership.”

Dollar Shave Club interim co-CEOs Mary Jensen and Dale Brockmeyer said: "We are grateful to Unilever for their support and are looking forward to a strong partnership with Nexus Capital Management.

"Their commitment to investing in our challenger brand will unlock future growth and create an inspiring environment for our employees."

Unilever will retain a minority shareholding of 35%.

The transaction is expected to close this year subject to customary closing conditions.

Financial terms of the agreement are undisclosed.