- Kimberly-Clark Corp KMB has acquired a majority stake in Thinx Inc, a reusable period and incontinence underwear company. Terms of the transaction are not being disclosed.
- Kimberly-Clark made an initial minority investment in Thinx in 2019.
- "The investment in Thinx paves the road for collaboration and allows us to work together to drive category growth with our retail partners while continuing to support Thinx in direct-to-consumer channels," said Russ Torres, Group President of Kimberly-Clark's North American consumer business.
- Kimberly-Clark held $270 million in cash and equivalents as of December 31, 2021.
- Price Action: KMB shares closed lower by 2.55% at $128.57 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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