Kimberly-Clark Acquires Majority Stake In Thinx

• Kimberly-Clark Corp (NYSE: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.