UNILEVER BUYS DOLLAR SHAVE CLUB FOR $1 BILLION

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Unilever made the announcement last night that it would be acquiring Dollar Shave Club.  The terms of the deal were not disclosed, but sources that have reported to Fortune magazine are pegging the deal at about $1 billion in cash. DSC founder and CEO Michael Dubin will stay on to run the company which will continue to operate independently. The acquisition will provide a shot in the arm for growth and expansion plans into new parts of the world.

“DSC couldn’t be happier to have the world’s most innovative and progressive consumer-product company in our corner,” Dubin said in a prepared statement. “We have long admired Unilever’s purpose-driven business leadership and its category expertise is unmatched. We are excited to be part of the family.”