The terms of the transaction were not disclosed.
Founded in 2012 by Michael Dubin, CEO, Dollar Shave Club (DSC) is a male grooming business which provides its 3.2 million members with shaving products, men’s personal wash products, men’s skin care products, hair styling products, and the popular daily wipes.
In 2015, the company had a turnover of US$152m and is on track to exceed US$200 million in turnover in 2016.
Subject to regulatory approval, the transaction is expected to close during the third quarter. Dubin will continue to serve as CEO of DSC.