06:18 AM EDT, 06/27/2025 (MT Newswires) -- (Updates with Unilever ( UL ) response in last paragraph.)

Unilever ( UL ) will be paying $1.5 billion to acquire men's grooming brand Dr. Squatch, the Financial Times reported Thursday, citing people familiar with the details.

The deal, which was announced Monday, is expected to close later this year, subject to customary regulatory approvals and closing conditions.

Unilever ( UL ) said it is buying Dr. Squatch from private equity firm Summit Partners as part of its efforts to expand into premium personal care and wellness products.

Unilever ( UL ) said in a statement e-mailed to MT Newswires that it is not disclosing the terms of the deal.

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