Unilever Sells Dollar Shave Club to Nexus Capital Management to Focus on Core Growth Areas

Unilever Sells Dollar Shave Club to Nexus Capital Management to Focus on Core Growth Areas

(IN BRIEF) Unilever has announced the sale of Dollar Shave Club to Nexus Capital Management LP, a US-based private equity firm. Dollar Shave Club, known for its razors and male grooming products, will continue to serve consumers in North America and beyond under new ownership. Unilever will retain a minority shareholding of 35% in the brand. The transaction is expected to close by the end of the year, with financial terms undisclosed.

(PRESS RELEASE) LONDON, 27-Oct-2023 — /EuropaWire/ — 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 recent expansion into electric trimmers.

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.

About Nexus Capital Management

Nexus is an alternative asset investment management company based in Los Angeles, California that was founded in 2013. Nexus employs a flexible investment mandate that focuses on long-term value creation by partnering with leading management teams and businesses. For more information on Nexus, please visit www.nexuslp.com.

About Dollar Shave Club

Dollar Shave Club, founded in 2011, is a men’s grooming brand offering quality, affordable razors, delivered straight to the consumer’s door. Dollar Shave Club is a multinational, omni-channel, lifestyle brand with retail presence across the USA, with a goal to offer simple shaving and grooming solutions at a great price.

Safe Harbour

This announcement may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as ‘will’, ‘aim’, ‘expects’, ‘anticipates’, ‘intends’, ‘looks’, ‘believes’, ‘vision’, or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. Forward-looking statements also include, but are not limited to, statements and information regarding the Unilever Group’s (the ‘Group’) emissions reduction targets and other climate change related matters (including actions, potential impacts and risks associated therewith). These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance or outcomes.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: Unilever’s global brands not meeting consumer preferences; Unilever’s ability to innovate and remain competitive; Unilever’s investment choices in its portfolio management; the effect of climate change on Unilever’s business; Unilever’s ability to find sustainable solutions to its plastic packaging; significant changes or deterioration in customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain and distribution; increases or volatility in the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; execution of acquisitions, divestitures and business transformation projects; economic, social and political risks and natural disasters; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. A number of these risks have increased as a result of the Russia/Ukraine war.

These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Further details of potential risks and uncertainties affecting the Group are described in the Group’s filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Unilever Annual Report and Accounts 2022 and the Annual Report on Form 20-F 2022.

Media Contacts:

Unilever:
Press-Office.London@unilever.com

Nexus Capital Management:
www.nexuslp.com

SOURCE: Unilever