Stockholm Essity reports it has finalized the purchases of Canada-based Knix Wear Inc. and Australia-based Modibodi. The two companies are providers of leakproof apparel for periods and incontinence — a fast growing segment in the intimate hygiene sector.
Knix has a strong presence in the United States and Canada; while Modibodi has a presence in Australia, New Zealand and the United Kingdom. Essity acquired 80 percent of Knix, while Founder and CEO Joanna Griffiths holds the remaining 20 percent share. She will remain as president of the company.