Unilever to pay $1.5 billion for men's grooming brand Dr Squatch, FT reports

Unilever is paying $1.5 billion (1.09 billion pounds) to buy men's personal care brand Dr Squatch from private-equity firm Summit Partners, the Financial Times reported, citing sources.

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The deal was announced without disclosing financial details.

Unilever and Summit Partners did not immediately respond to Reuters' requests for comment outside of regular business hours. Reuters could not immediately verify the FT report.

Reuters reported last year that Summit was exploring a sale of the men's grooming brand at a valuation of more than $2 billion.

Launched in 2013 by founder and CEO Jack Haldrup, and named after the mythical creature Sasquatch, Dr. Squatch started out by selling handmade bar soaps for men.

The Los Angeles-based company currently sells deodorant, hair care products, colognes, lotions and other personal care products through its website and at brick-and-mortar stores.

Unilever said earlier that the acquisition of Dr Squatch would complement its men's personal care offerings, which include Axe and Dove Men+Care deodorants, and that it would scale Dr Squatch internationally.

Repsol sells stake in an Indonesian gas operation for $425 million

Spanish energy company Repsol said it has agreed to sell a 24% stake in Indonesia's Corridor Block gas operation to Jakarta-listed Medco Energi for $425 million.

The deal is part of Repsol's strategy in upstream to focus on more profitable assets that generate cash.

According to its own calculations, the sale will have a positive impact of about $70 million on its full-year income and it will help reduce its net debt by about $350 million, Repsol said.

The company expects the transaction to be closed in the third quarter of 2025.