Essity AB (publ) (OM:ESSITY B) agreed to acquire 80% stake in Knix Wear Inc. for approximately SEK 3.3 billion on July 8, 2022. The purchase price amounts to approximately SEK 3.3 on a cash and debt free basis for 80% of Knix Wear. Founder and Chief Executive Officer of Knix Wear, Joanna Griffiths will hold the remaining 20% share and will stay on as President of Knix Wear. In 2021, Knix Wear reported net sales of approximately SEK 914 million and the EBITDA of approximately SEK 95 million. The transaction is subject to customary regulatory approvals and is expected to be finalized in the second half of 2022.

Essity AB (publ) (OM:ESSITY B) completed the acquisition of 80% stake in Knix Wear Inc. on August 1, 2022. OMMAX GmbH acted as commercial and digital due diligence provider to Essity. Cassels Brock & Blackwell LLP acted as legal advisor to Knix Wear Inc.