DALLAS – Kimberly-Clark has completed its US$48.7 billion acquisition of Kenvue, creating a combined consumer health and wellness group with a portfolio spanning baby care, feminine care, adult incontinence, tissue and consumer health products.
Kimberly-Clark says the enlarged portfolio includes 10 billion-dollar brands: Huggies, Listerine, Cottonelle, Neutrogena, Depend, Tylenol, Kleenex, Johnson’s Baby, Kotex and Scott. The company will serve consumers in more than 175 countries.
The combined business will operate under four segments: North America, Asia Pacific Focus Markets, Europe, Middle East and Africa (EMEA), and Enterprise Markets.
Based on recast 2025 net sales estimates, these are expected to generate approximately $18.0 billion, $4.3 billion, $5.0 billion and $4.3 billion respectively.
For nonwovens suppliers, the deal brings together two of the sector’s most significant brand owners and converters.
Kimberly-Clark’s Huggies, Kleenex, Cottonelle, Scott, Kotex and Depend brands are established outlets for airlaid, spunlace, thermal-bonded and other absorbent nonwoven materials, while Kenvue adds consumer health and personal care brands including Johnson’s Baby, Neutrogena and Listerine.
Kimberly-Clark says it expects approximately $2.1 billion in run-rate synergies. It anticipates about $1.9 billion in cost synergies within three years of completion, alongside approximately $500 million in incremental profit from revenue synergies, partly offset by around $300 million of reinvestment over four years.
Mike Hsu, Kimberly-Clark chairman and chief executive, said the completion marked “a defining moment” in the company’s history. “Our focus now is to move with speed and purpose to unlock the full potential of this combination,” he said.
Kenvue shareholders will receive $3.50 in cash and 0.14625 Kimberly-Clark shares for each Kenvue share held. Three former Kenvue directors have joined the Kimberly-Clark board, which now has 13 members.
The immediate priority will be integration, aligning procurement, manufacturing networks, product specifications and innovation pipelines across the combined business.
