Oct 27, 2023 - Economy

Unilever is selling Dollar Shave Club to private equity

Dan Primack

Illustration of a razor with a dollar bill for the blades — Illustration: Sarah Grillo/Axios

Private equity firm Nexus Capital Management has agreed to buy a majority stake in Dollar Shave Club from Unilever, which had paid $1 billion in cash to buy the upstart razor brand in 2016. No financial terms were disclosed.

Why it matters: Dollar Shave Club helped lead a wave of buzzy direct-to-consumer startups that threatened to upend omnichannel retail, before becoming small cogs in that same system.

Details: Nexus will acquire a 65% stake in DSC, with Unilever retaining the other 35%. The deal is expected to close by year-end.

Dollar Shave founder Michael Dubin left in 2021, and his successor Jason Goldberger resigned last month to join Nexus portfolio company Lamps Plus as CEO.
In a press release, Unilever lists CFO Dale Brockmeyer and chief admin and people officer Mary Jensen as interim co-CEOs.

More, per Retail Dive: "While Dollar Shave Club started off through its subscription model, the brand now also sells its men's grooming products at retailers such as Walmart, Target and more. The brand has expanded its offerings beyond razors since then, pushing into the broader men's personal care category with products like deodorant."

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Unilever is selling Dollar Shave Club to private equity

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