Kimberly-Clark, a major personal care company, has announced an agreement to acquire Kenvue in a cash-and-stock transaction valued at approximately $48.7 billion. The deal will create a combined business with an estimated $32 billion in 2025 annual revenue and a portfolio of 10 billion-dollar brands across consumer health and personal care.
Kimberly-Clark Chairman and CEO Mike Hsu stated, “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 Chair Larry Merlo highlighted, “Bringing together Kenvue and Kimberly-Clark creates a uniquely positioned global leader in consumer health with a broader range of new growth opportunities ahead.” The combined company expects approximately $1.9 billion in cost synergies and $500 million in revenue synergies, partially offset by reinvestment. Kimberly-Clark will fund the cash portion through a mix of balance-sheet cash, new debt, and proceeds from the sale of a majority stake in its International Family Care and Professional business.
The transaction, approved by both boards, is projected to close in the second half of 2026, pending shareholder and regulatory approvals. Mike Hsu will lead the combined organization, which will remain headquartered in Irving, Texas.
