THE WHAT?  Unilever is selling its subsidiary, Dollar Shave Club, to Nexus Capital Management LP, a U.S.-based private equity firm. Beyond razors, Dollar Shave Club has expanded its product line to include various men’s grooming items, including electric trimmers.

THE DETAILS  Unilever’s decision to sell stems from its goal to focus more on its primary business sectors. Fabian Garcia of Unilever mentioned the brand’s solid customer base and believes Nexus Capital Management can further its growth. Michael Cohen of Nexus highlighted the brand’s direct-to-consumer model as a key acquisition factor and expressed plans to invest in the brand. Dollar Shave Club’s Interim Co-CEOs acknowledged the transition and expressed anticipation for the company’s next phase.

THE WHY? Unilever aims to streamline its business focus, and selling Dollar Shave Club is a part of that strategy. The acquisition by Nexus Capital Management is rooted in the brand’s strong market presence and potential for further growth. While the deal is set to be finalised this year, Unilever will retain a 35% stake in the company. Specific financial terms have not been disclosed.