US consumer goods giant Kimberly-Clark announced on Monday, November 3, a 48.7 billion deal to acquire the consumer health products company Kenvue, maker of the paracetamol-based painkiller Tylenol.
Through this acquisition, Kimberly-Clark takes over Johnson & Johnson’s (J&J) former consumer health division and its flagship medication and skincare and haircare brands such as Neutrogena, Aveeno, and OGX.
Texas-based Kimberly-Clark makes a wide range of paper and cloth products, with brands such as Huggies, Kleenex and Kotex.
"We are excited to bring together two iconic companies to create a global health and wellness leader," Kimberly-Clark Chairman and Chief Executive Officer Mike Hsu said in a statement, referring to the group’s "significant transformation" in recent years to pivot towards “higher-growth businesses, higher margin businesses."
The deal is expected to close in the second half of 2026, the companies said, with Hsu to become chairman and CEO of the combined group.
“Our combination with Kimberly-Clark unites two highly complementary portfolios filled with iconic, beloved brands and everyday essentials that people trust and count on throughout their lives,” said Kirk Perry, Chief Executive Officer of Kenvue.
The companies expect the combined entity to create 2025 annual net revenues of 32 billion US dollars and like-for-like operating income of approximately 7 billion US dollars.
The new group will bring together a wide portfolio of health, hygiene, and personal care brands — including about ten generating over one billion dollars in annual revenue, among them Huggies, Neutrogena, Johnson’s, Listerine, Tylenol, Kleenex, Scott, Cottonelle, Kotex, and Depend.
Kenvue was spun off from Johnson & Johnson’s consumer goods brand in 2023.
