STOCKHOLM - Hygiene and health company Essity has finalized the acquisitions of the Canadian company Knix Wear Inc. and the Australian company Modibodi, both leading providers of leakproof apparel for periods and incontinence.
With these acquisitions, Essity says it 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 in a US$320 million deal (approx SEK 3.4b) Founder and CEO, Joanna Griffiths, holds the remaining 20% share and stays on as President of Knix.
Modibodi provides leakproof apparel for periods and incontinence. The AUD 140 million (approximately SEK 985m) deal for the company provides Essity with a strong presence in Australia, New Zealand and the UK as well as an online, direct-to-consumer business model, with growing sales in retail and through e-tailers.
Knix will be consolidated into Essity’s accounts as of September 1, 2022, and Modibodi as of August 1, 2022.
