From underpants to oat drink makers, Citigroup courts startups for growth [Reuters (UK)]
Citigroup, Inc. (C)
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Source: Reuters
From underpants to oat drink makers, Citigroup courts startups for growth - Reuters 4 Min Read Sept 17 (Reuters) - At an event hosted by Citigroup Inc this month, its dealmakers sat executives from major consumer-product companies alongside rivals trying to disrupt their businesses. The idea, bankers said, was to hatch partnerships between old companies that are replete with cash and searching for growth, and fledgling companies that are gobbling up market share and need working capital. One of the blue-chip titans that benefited from Citi’s matchmaking was Kimberly Clark Corp. Known for selling tissues and diapers, the Irving, Texas-based company made an investment in a direct-to-consumer brand on Tuesday, inking a $25 million deal with period-proof-panty startup Thinx, the startup said. Such tie-ups help Citigroup bankers improve relationships with large-cap clients while also building connections with privately held companies that may one day go public, said Elinor Hoover, Citigrou
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