Kimberly-Clark Acquires Majority Stake In Thinx

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.