Monday, August 8, 2022
HomeFashionEssity acquires Australian firm Modibodi

Essity acquires Australian firm Modibodi




Hygiene and health company Essity has acquired the Australian company Modibodi, a leading leakproof apparel company in Australia, New Zealand and UK. The purchase price amounts to AUD 140 million (approximately SEK 985 million) on a cash and debt free basis. Leakproof apparel has an expected annual growth rate of more than 20 per cent for the next five years.

Through the acquisition, Essity will strengthen its position in 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, the company said in a press release.

Hygiene and health company Essity has acquired Australian company Modibodi, a leading leakproof apparel company in Australia, New Zealand and UK. The purchase price amounts to AUD 140 million (approximately SEK 985 million) on a cash and debt free basis. Leakproof apparel has an expected annual growth rate of more than 20 per cent for the next five years.

“The acquisition of Modibodi strengthens Essity’s position in leakproof apparel and enables faster growth within better-for-you, better-for-the-planet solutions. Modibodi has the qualities we are looking for with leading market positions, strong brand and sustainability credentials as well as excellent digital marketing and e-commerce capabilities,” said Magnus Groth, president and CEO of Essity

Modibodi, founded in 2013, provides leakproof apparel for periods and incontinence including underwear, swimwear, activewear and maternity wear. The company operates an online, direct-to-consumer business model, with growing sales in retail and through e-tailers. 

In 2021, the company reported net sales of AUD 56.7 million (approximately SEK 365 million) and a sales growth of 18 per cent. The EBITDA amounted to AUD 5.7 million (approximately SEK 36 million) and EBITA to AUD 5.6 million (approximately SEK 36 million). Gross margin was high and EBITA margin amounted to 9.8 per cent. Modibodi has 45 employees and headquartered in Sydney, Australia. 

“I am proud of all we have created at Modibodi over the past nine years and pleased that Modibodi is joining Essity. As a global leader in hygiene and health, Essity can provide the expertise and capital to take the brand forward during its next phase of growth, and achieve even greater impact,” said Kristy Chong, founder and CEO of Modibodi.

Fibre2Fashion News Desk (RR)





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