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Remember Dollar Shave Club? Unilever Just Bought It For $1 Billion

Remember Dollar Shave Club? Unilever Just Bought It For $1 Billion - Unilever PLC NYSE:UL

Dollar Shave Club's fame and success could be attributed to a

it produced 2012. The company's founder, Michael Dubin, produced and starred in the video in which he showed a tour of the company's warehouse, explaining why his "blades are f—ing great."

The video helped propel Dollar Shave Club (also known simply as DSC) grow into the large business it is today. The company not only distributes millions of razors to members for a fraction of the cost of name brands, but it expanded into skin care, hair care and even a line of "butt wipes."

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Fortune reported on Tuesday evening that the company sold itself to Unilever plc (ADR) UL 0.3% for as much as $1 billion. Sources close to the deal told Fortune that Unilever approached DSC about the acquisition.

Dubin will continue running the business as an independent entity, but the acquisition should expand DSC's business to new geographies and improve its distribution abilities.

"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."

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