Unilever creates and captures a unicorn with its plans to acquire Dollar Shave Club.
Announced this evening, the $130 billion dollar multinational consumer goods company is speculated to be paying $1 billion for the startup, according to reports from Fortune.
Dollar Shave Club has grown to become a dominate player in the male grooming business since its founding in 2012.
The company’s 3.2 million members will be a valuable addition to Unilever and increase the company’s exposure to a growing demographic.
While best known for its shaving service, the company also produces mens wash, skincare, and and styling products.
Unilever will also benefit from Dollar Shave Club’s valuable customer data and existing customer base. Unilever plans to keep DCS’s CEO, Michael Durbin on through the transition and does not have plans to make any executive changes into the future.
We are reaching out to the companies involved and will have more shortly in this developing story.
Featured Image: Dollar Shave Club