Sweden's Essity acquires Johnson & Johnson's sports tape brands

The purchase price is not material relative to Essity’s market capitalisation and is not disclosed. Coach, Elastikon and Zonas are three highly respected brands in the US market. The products are mainly sold through sports medicine distributors to schools, sports clubs, and professional sports teams. The brands have a strong brand recognition and are considered premium products in the world of sport. Elastikon is produced by Essity and Coach and Zonas will in the future be added to the inhouse production, according to a press release by Essity.

Coach, Elastikon and Zonas will become part of Essity’s medical solutions business, which supplies innovative and high-quality medical products and solutions in compression, wound care and orthopedics. With global brands such as Leukoplast, JOBST, Cutimed, Actimove and Delta-Cast, Essity has strong market positions in a number of therapeutic areas.

“Growing through acquisitions in medical solutions is a key strategic priority. The US market for taping and strapping is the largest in the world, and Essity is now taking a larger share of this market. The acquisition of Johnson & Johnson’ Consumer Inc’s sports tape brands will make Essity the leader in taping and strapping among US sports medicine distributors. The acquisition also opens up opportunities for our existing product range,” Ulrika Kolsrud, president for health and medical solutions, Essity said in a statement.

Fibre2Fashion News Desk (GK)