Although this deal will increase Unilever’s footprint in the personal care product sector, it will also inherit Gillette’s lawsuit against Dollar Shave Club.
In a strategic development in the corporate sector, Unilever Plc is all set to acquire Dollar Shave Club. The deal will greatly boost Unilever’s footprint in the personal care products industry.
Although Unilever did not disclose the financial terms of the deal, Fortune has reported citing several sources who are familiar with the matter at hand that Unilever will be shelling out $1 billion in cash for the California-based company.
According to a statement from Unilever, Dollar Shave Club’s turnover is set to grow to over $200 million this year from its previous year figure of $152 million.
After the acquisition, Michael Dublin, Dollar Shave Club’s founder will continue to be its CEO.
The deal is expected to close in the third quarter of this year.
While Unilever declined to comment on this report Dollar Shave Club could not be reached outside regular market hours.
Significantly, last December, Gillette, a unit of Proctor and Gamble, had filed a patent infringement lawsuit against Dollar Shave.
Categories: Entrepreneurship, HR & Organization, Regulations & Legal, Strategy
manageria.biz 
Leave a comment