Unilever, the global consumer products giant, has recently announced that it will be selling a majority stake in its Dollar Shave Club brand. The buyer of this stake is Nexus Capital Management, a private equity firm based in the United States. Although the exact terms of the deal have not been disclosed, Unilever will still retain a minority shareholding of 35%.

Dollar Shave Club has become known for its affordable and convenient subscription-based razors. Since its launch, the brand has quickly gained a loyal following and has expanded its product range to include male grooming products and electric trimmers. However, Unilever’s decision to sell the majority stake is part of their strategic plan to focus on their core growth areas and power brands.

Fabian Garcia, President of Unilever Personal Care, has expressed confidence in the future success of Dollar Shave Club under its new ownership. He believes that the brand will continue to thrive and serve consumers not only in North America but also beyond.

Nexus Capital Management sees tremendous potential for growth in Dollar Shave Club and has plans to invest in cutting-edge marketing, product quality, and new innovations. They also view Dollar Shave Club as a platform for introducing additional brands with a similar DNA. Michael Cohen, a partner at Nexus Capital Management, has stated that they are excited to work with the employees of Dollar Shave Club to drive accelerated growth and are grateful for Unilever’s continued partnership.

The interim co-CEOs of Dollar Shave Club, Mary Jensen and Dale Brockmeyer, have also expressed their enthusiasm for the partnership with Nexus Capital Management. They believe that the firm’s commitment to investing in their challenger brand will unlock future growth opportunities and create an inspiring environment for their employees.

In conclusion, Unilever’s sale of a majority stake in Dollar Shave Club signifies their strategic move to focus on their core growth areas. With the partnership with Nexus Capital Management, Dollar Shave Club aims to continue serving its loyal customers while also exploring new avenues for growth.

To learn more about Dollar Shave Club, visit their website here. For more information on Nexus Capital Management, you can visit their website here.