Kimberly-Clark has announced it will buy Kenvue in a deal valued at US$48.7 billion.
The two companies would combine brands such as Huggies and Kleenex with Band-Aid and Tylenol, generating an estimated net revenue of roughly US$32 billion in 2025.
Kimberly-Clark will acquire all of the outstanding shares of Kenvue common stock in a cash-and-stock transaction. Shares of Kenvue surged 18% in premarket trading today, while shares of Kimberly-Clark plunged 14%.
This transaction brings together two major US companies, creating a combined portfolio of complementary products, including 10 billion-dollar brands.
“We are excited to bring together two iconic companies to create a global health and wellness leader,” says Mike Hsu, Kimberly-Clark Chairman and CEO.
“Kenvue is uniquely positioned at the intersection of consumer packaged goods and health care, with exceptional talent and a differentiated brand offering serving attractive consumer health categories.”
The transaction is expected to close in the second half of 2026.