Kimberly-Clark Plans $48.7B Acquisition of Kenvue Creating Consumer Health Giant

Kimberly-Clark is acquiring Kenvue, the maker of Tylenol, in a cash-and-stock deal valued at approximately $48.7 billion, creating one of the largest consumer health goods companies in the U.S. The combined company will generate about $32 billion in annual revenue and include well-known brands such as Tylenol, Band-Aid, Listerine, Huggies, Kleenex, and Neutrogena. Kimberly-Clark shareholders will own roughly 54% of the new entity, with Kenvue shareholders holding 46%, and the deal is expected to close in the second half of 2026. Kenvue, which was spun off from Johnson & Johnson in 2022, has recently faced scrutiny and litigation risks, intensified by President Donald Trump's claims linking Tylenol to autism, which the company has denied. Kimberly-Clark aims to leverage the acquisition to strengthen its position in health and wellness categories amid shifting consumer preferences. Mike Hsu will lead the combined company as chairman and CEO, maintaining Kimberly-Clark’s headquarters in Texas along with a significant presence in Kenvue’s locations.