TZP Group's Growth Equity Portfolio Company, Knix Wear, Sells to Essity AB

NEW YORK, July 11, 2022 -- TZP Group LLC announced the full realization of its investment in Knix Wear, Inc, a direct-to-consumer intimate apparel brand, through the Company's 80% sale to Essity AB (ESSITY-B).

Knix, founded in 2013 by Joanna Griffiths, has reinvented the intimates category by combining performance, technology, and design. The brand pioneered leakproof underwear and expanded into wireless bras, sports bras, swimwear, loungewear, shapewear, maternity apparel, and the teen brand Kt by Knix. The company sells globally via its website and operates six Knix-owned retail locations in Toronto, Vancouver, and California, with plans to expand across North America.

Erin Edwards, Partner at TZP Group, stated: "Knix is truly an incredible organization with an unwavering commitment to innovation," and reflected that the partnership exemplified TZP's focus on digitally native and health-and-wellness businesses, as well as support for female founder-led ventures.

Founder and CEO Joanna Griffiths added: "TZP Group has been extremely supportive as we executed our expansion strategy," and praised their collaborative approach and guidance throughout the partnership.

Erin Edwards, Choon Woo Ha, and George Philipose led the transaction for TZP. The deal is subject to customary regulatory approvals and was expected to close in the second half of 2022.