Unilever Buys Dollar Shave Club For $1B

Unilever says it will acquire Dollar Shave Club for roughly $1 billion as it looks to compete against rival Gillette.

Author:: James Passeri
Publish date:: Jul 20, 2016 1:52 PM EDT

Unilever (UL) - Get Report says it has acquired Dollar Shave Club in a deal valuing the company at roughly $1 billion, giving the Anglo-Dutch consumer goods giant an bigger reach in the men's grooming market. The deal is reported to be an all-cash offer, set to close in the current quarter. Shares of Unilver are up roughly nine percent this year. Our colleague, Jim Cramer most recently pointing to currency headwinds that Unilever shares with European peer Nestle (NSRGY) - Get Report . Procter & Gamble (PG) - Get Report , on the other hand, has been able to benefit from a weak dollar because of the significant operations maintained in the U.S. Procter & Gamble shares are up roughly eight percent since the beginning of the year.

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