Kleenex owner Kimberly-Clark Corp. will acquire Kenvue Inc.in a deal valued at $48.7 billion, the two companies said Monday.
The transaction is expected to close in the second half of 2026, subject to regulatory approvals.
“We are excited to bring together two iconic companies to create a global health and wellness leader,” said Mike Hsu, Kimberly-Clark chairman and chief executive officer. “Kenvue is uniquely positioned at the intersection of CPG and healthcare, with exceptional talent and a differentiated brand offering serving attractive consumer health categories. With a shared commitment to developing science and technology to provide extraordinary care, we will serve billions of consumers across every stage of life.”
Kenvue was spun out of Johnson & Johnson in 2023. Its brands include Neutrogena, Aveeno, OGX and Tylenol. In July, it revealed that it was carrying out a strategic review “to unlock shareholder value and reach its full potential,” including assessing its current portfolio.
Larry Merlo, Kenvue chair of the board, added, “Following the board’s comprehensive review of strategic alternatives for Kenvue, we are pleased to have reached this agreement with Kimberly-Clark that delivers significant upfront value for our shareholders and substantial upside potential through ownership in the combined company. Bringing together Kenvue and Kimberly-Clark creates a uniquely positioned global leader in consumer health with a broader range of new growth opportunities ahead. We are excited about this next chapter for Kenvue and confident this combination represents the best path forward for our shareholders and all other stakeholders.”
