Unilever in $1bn shaver deal to compete with Gillette

Unilever plans to acquire Dollar Shave Club in the US in a deal worth about $1bn (€905m), gaining a firmer foothold in the burgeoning market for male grooming products and opening up a new front in its battle against Procter & Gamble.

The Anglo-Dutch consumer products maker will pay cash for the US toiletry delivery business though a Unilever spokesman declined to comment. The maker of Dove soap said it expects to close the purchase in the third quarter.

Unilever will look to expand the subscription model Dollar Shave Club has used since 2012 to accumulate 3.2m customers and take on brands such as P&G’s Gillette and Edgewell Personal Care’s Schick in the estimated $3bn US men’s shaving products market.