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Axe Body Spray maker to buy Dollar Shave Club for $1B

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The maker of Axe Body Spray and Dove soap has agreed to buy Dollar Shave Club.

Terms of the deal were undisclosed, but sources familiar with the matter told Fortune that Unilever is paying $1 billion for the Santa Monica, Calif.-based business.

Dollar Shave Club, a direct-to-consumer razor business, will operate as a separate entity under founder and CEO Michael Dubin.

Read more from Fortune.

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