Intrepid Investment Bankers, a leading middle-market investment bank and the advisory arm of MUFG, a global financial group, announced today that it acted as the exclusive buy-side advisor to Dollar Shave Club, Inc. (“Dollar Shave Club”), a portfolio company of Nexus Capital Management (“Nexus”), on its acquisition of Truly Beauty Inc. (“Truly Beauty”).
The Target – Truly Beauty, a Leading, Gen-Z Focused Body & Skin Care Brand
Founded in 2013 and headquartered in Los Angeles, California, Truly Beauty is a leading masstige body and skin care brand focused on high-performance formulations sold across direct-to-consumer, retail channels, and social media. Truly Beauty has cultivated a highly engaged Gen Z following by delivering premium formulations at accessible price points, supported by a distinctive brand identity, and social media presence that have translated into consistent customer loyalty. Truly Beauty has driven strong growth through the continued expansion of its omnichannel footprint, positioning itself as one of the premier brands in the body care category.
The Acquiror – Dollar Shave Club, a Household Name in Personal Care & Grooming
Founded in 2011 and headquartered in Durham, North Carolina, Dollar Shave Club launched by offering quality, affordable direct-to-consumer razors. The brand has evolved into a leading omnichannel personal care brand with quality men’s shaving, grooming, and hygiene products at great prices. The brand successfully moved into women’s grooming earlier this year, strategically leveraging its operating infrastructure to serve a larger customer base and enter a new category.
The Next Chapter – Dollar Shave Club Expands as a Leading Personal Care Platform with Truly Beauty Acquisition
Dollar Shave Club’s acquisition of Truly Beauty establishes the foundation of a multi-brand personal care platform, pairing two brands that reach complementary consumers across the same aisle and building on Dollar Shave Club’s expansion into the women’s grooming category earlier this year. Truly Beauty contributes an agile product development engine, a growing social commerce presence, and natural overlap in shave care. Dollar Shave Club provides institutional operating infrastructure, including a best-in-class management team and a proven go-to-market strategy. Both brands will retain their distinct identities and core audiences while leveraging shared capabilities to maximize growth across the platform. With the support and leadership from Dollar Shave Club, Truly Beauty is well-positioned to capitalize on numerous near-term opportunities including new product launches, deeper retail penetration, and further scaling of its omnichannel footprint.
From the Client
“Intrepid was instrumental throughout this process,” said Larry Bodner, Chief Executive Officer of Dollar Shave Club. “Their knowledge of the beauty and personal care landscape gave us conviction in Truly Beauty early, and their guidance through a complex process was key to our success. We are grateful for their partnership and excited for what this platform can become.”
From the Deal Team
“It was a privilege to advise Dollar Shave Club and Nexus on this acquisition,” said Lauren Antion Hansen, Managing Director & Co-Head of the Beauty, Personal Care & Wellness practice at Intrepid. “Truly Beauty has established itself as one of the most distinctive brands in the body and skin care space, with an authentic connection to its customer base and a social marketing presence that few operators have been able to replicate. We have been incredibly impressed by the leadership, strategy, and platform capabilities at Dollar Shave Club and are excited to see what the combined team builds together in this next phase of growth.”