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 on Friday, citing sources.

The deal was announced earlier this week by all three parties, without disclosing financial details.

Unilever (LON:ULVR) reiterated on Friday that it will not disclose the terms of the deal, while Summit Partners did not immediately respond to a Reuters request 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.