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Essity Acquires Australian Company Modibodi

Hygiene and health company Essity has acquired Australian company Modibodi, a leading leak prevention apparel company in Australia, New Zealand and the United Kingdom. The purchase price is A $ 140 million on a cash and debt-free basis. Leaky apparel is expected to grow at an annual growth rate of over 20% over the next five years.

With this acquisition, Essity will strengthen its position in leak-proof apparel, the fastest-growing product segment in intimate hygiene, including women’s care products and incontinence products. Essity is already active in the leak-free apparel market among feminine care brands such as Libresse, Bodyform, Saba and TOM Organic, and TENA brand incontinence products, the company said in a press release.

Hygiene and health company Essity has acquired Australian company Modibodi, a leading leak prevention apparel company in Australia, New Zealand and the United Kingdom. The purchase price is A $ 140 million on a cash and debt-free basis. Leaky apparel is expected to grow at an annual growth rate of over 20% over the next five years.

“The acquisition of Modibodi strengthens Essity’s position in leak-free apparel, enabling faster growth within better, better planetary solutions. Modibodi is a market-leading position, strong With a brand and sustainability qualifications, excellent digital marketing and e-commerce capabilities, we have the quality we are looking for. ” Magnus Groth, President and CEO of Essity..

Founded in 2013, Modibodi offers complete menstrual and incontinence apparel such as underwear, swimwear, active wear and maternity wear. The company operates an online direct-to-consumer business model, increasing sales through retailers and electronic retailers.

In 2021, the company’s net sales were A $ 56.7 million and sales increased by 18%. EBITDA was A $ 5.7 million (about 36 million kroner) and EBITA was A $ 5.6 million (about 36 million kroner). The gross profit margin was high and the EBITA margin was 9.8%. Modibodi has 45 employees and is headquartered in Sydney, Australia.

“We are proud of everything we have created with Modibodi over the last nine years and are pleased to join Modibodi in Essity. Essity is a global leader in hygiene and health, specializing in advancing the brand to the next level. We can provide knowledge and capital. We will grow and have a greater impact. ” Kristy Chong, Founder and CEO of Modibodi..

Fibre2Fashion News Desk (RR)



Essity Acquires Australian Company Modibodi

Source link Essity Acquires Australian Company Modibodi

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