Essity finalizes acquisitions of Knix and Modibodi

Rhea-AI Summary

Essity has completed the acquisitions of Canadian Knix Wear Inc. and Australian Modibodi, both leaders in leakproof apparel for periods and incontinence. This strategic move positions Essity as the global market leader in this rapidly growing segment of Intimate Hygiene. Essity acquired 80% of Knix, with its founder retaining 20% and continuing as President. Modibodi, known for its online direct-to-consumer model, will also enhance Essity's portfolio. Consolidation of Knix began on September 1, 2022, while Modibodi was consolidated from August 1, 2022.

Positive

• Acquisition of Knix and Modibodi positions Essity as global market leader in leakproof apparel.
• Strengthening of product portfolio in the fast-growing segment of Intimate Hygiene.
• Significant direct-to-consumer sales channels through both acquisitions.

Negative

• None.

STOCKHOLM, Sept. 1, 2022 /PRNewswire/ -- Hygiene and health company Essity has finalized the acquisitions of the Canadian company Knix Wear Inc. ("Knix") and the Australian company Modibodi, both leading providers of leakproof apparel for periods and incontinence. With these acquisitions, Essity will become the global market leader within leakproof apparel*, the fastest growing product segment in Intimate Hygiene which includes Feminine Care and Incontinence Products. 

Knix offers a broad assortment of intimate apparel with leading positions in the growing leakproof apparel category. The company has a strong presence in the US and Canada and sells mainly direct-to-consumer through online channels. Essity has acquired 80% of the shares in Knix. Founder and CEO, Joanna Griffiths, holds the remaining 20% share and stays on as President of Knix. Read the announcement of the acquisition of Knix.

Modibodi provides leakproof apparel for periods and incontinence. The company has a strong presence in Australia, New Zealand and the UK and operates an online, direct-to-consumer business model, with growing sales in retail and through e-tailers. Read the announcement of the acquisition of Modibodi.

Knix will be consolidated into Essity's accounts as of September 1, 2022, and Modibodi as of August 1, 2022.

*Estimate based on market data compiled by Essity.

CONTACT:

For further information, please contact:

Per Lorentz, Vice President Corporate Communications, +46 733 13 30 55, per.lorentz@essity.com

Johan Karlsson, Vice President Investor Relations, +46 705 11 15 81, johan.ir.karlsson@essity.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/essity/r/essity-finalizes-acquisitions-of-knix-and-modibodi,c3623638

The following files are available for download:

https://mb.cision.com/Main/15798/3623638/1621669.pdf	Essity finalizes acquisitions of Knix and Modibodi
https://news.cision.com/essity/i/knix3,c3084748	Knix3

View original content:https://www.prnewswire.com/news-releases/essity-finalizes-acquisitions-of-knix-and-modibodi-301616137.html

SOURCE Essity

FAQ

What companies did Essity acquire in September 2022?

Essity acquired Knix Wear Inc. and Modibodi, both top providers of leakproof apparel.

How much of Knix did Essity acquire?

Essity acquired 80% of Knix, with the founder retaining 20%.

When did Essity finalize the acquisitions?

Essity finalized the acquisition of Knix on September 1, 2022, and Modibodi on August 1, 2022.

What market segment will Essity lead after these acquisitions?

After these acquisitions, Essity will lead the global market for leakproof apparel.

What is the significance of the leakproof apparel market?

The leakproof apparel market is the fastest growing segment within Intimate Hygiene.