Key Takeaways Kimberly-Clark, which owns Kleenex and Huggies, agreed to buy Kenvue, the maker of Tylenol and Band-Aid, on Monday in a $48.7 billion deal.
The combined business projects an annual revenue of $32 billion.
The acquisition requires shareholder approval and is expected to close in the second half of 2026.
On Monday, Kimberly-Clark, the company behind Kleenex, Huggies and Kotex, agreed to acquire Kenvue, the owner of Tylenol, Band-Aid and Neutrogena, in a cash and stock deal valued at approximately $48.7 billion. The move will create one of the world’s largest consumer staples and health goods companies, per CNBC.
The companies said in a news release that the combined business will drive annual revenue of $32 billion and annual cost savings of about $2.1 billion. The acquisition brings together 10 billion-dollar brands, including Johnson’s baby products and Listerine mouthwash, and is positioned to become one of the biggest deals this year, according to CNBC.
The new company will manufacture products that “touch nearly half the global population through every stage of life,” the companies said in the release.
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The deal has Kimberly-Clark paying $21.01 for each Kenvue share, a premium over its Friday closing price of $14.37. Upon the transaction’s close, Kimberly-Clark shareholders are expected to own about 54% of the combined company, while Kenvue shareholders will own about 46%, per CBS.
The acquisition is subject to shareholder approval and is expected to close in the second half of 2026.
Tylenol, a brand owned by Kenvue. Credit: VALERIE MACON/AFP via Getty Images
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