ESSYY - Essity acquires Canadian company Knix Wear

• Hygiene and health company Essity ( OTCPK:ESSYY ) acquires 80% of the Canadian company Knix Wear, a leading provider of leakproof apparel for periods and incontinence.
• The purchase price amounts to $320M (~SEK 3.3B) on a cash and debt free basis for 80% of the company.
• Pursuant to the deal, 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.
• Essity is already active in the leakproof apparel market within Feminine Care with brands such as Libresse, Bodyform, Saba and TOM Organic, and within Incontinence Products with the TENA brand.
• Essity acquires 80% of the shares in Knix. Joanna Griffiths will hold the remaining 20% share and will stay on as President of Knix.
• The total enterprise value of Knix amounts to $400M (~SEK 4.1B).
• The deal is expected to be finalized in the second half of 2022.

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