Essity finalizes acquisitions of Knix and Modibodi
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 (https://www.essity.com/media/press-release/essity-acquires-knix-and-takes-global-lead-in-leakproof-apparel/3a93117df780f1be/).
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. (https://www.essity.com/media/press-release/essity-acquires-modibodi-a-leading-leakproof-apparel-company/a5f5aafb1d33ce03/)
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.