ESSYY - Johnson & Johnson sells sports tape brands to Essity

Essity (OTCPK:ESSYY) (OTC:ETTYF) announced the acquisition of sports tape brands Coach, Elastikon, and Zonas from Johnson & Johnson (NYSE:JNJ) Consumer Inc. Noting that the acquisition price was not material to its market capitalization, Essity (OTCPK:ESSYY) (OTC:ETTYF) did not disclose the value of the transaction. The three brands will be part of its Medical Solutions business. Coach, Elastikon, and Zonas — considered as premium products in the U.S. market — are mainly sold via sports medicine distributors to a range of establishments, including schools, sports clubs, and professional sports teams. “The US market for taping and strapping is the largest in the world, and Essity is now taking a larger share of this market,” noted Ulrika Kolsrud, President Health and Medical Solutions, Essity. In the first nine months of 2021, Johnson & Johnson’s (JNJ) Consumer Health unit generated $3.9B in sales globally, indicating ~5.9% YoY growth.

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Johnson & Johnson sells sports tape brands to Essity