WARREN, Ohio – Texas-based Kimberly-Clark Corp. will acquire Kenvue Inc., the New Jersey-based manufacturer of Tylenol, in a deal valued at $47.8 billion, the companies announced in a news release Monday morning.
Kimberly-Clark, a global consumer paper products manufacturer produces products including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, Goodnites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll. The company is building an $800 million plant in Trumbull County and is considering construction of a $160 million distribution center here.
In addition to Tylenol, Kenvue’s brands include Aveeno, Band-Aid, Johnson’s, Listerine and Neutrogena.
The deal “brings together two iconic American companies to create a combined portfolio of complementary products, including 10 billion-dollar brands, that touch nearly half the global population through every stage of life,” according to the news release.
“We are excited to bring together two iconic companies to create a global health and wellness leader,” said Mike Hsu, Kimberly-Clark chairman and CEO. “Over the last several years, Kimberly-Clark has undertaken a significant transformation to pivot our portfolio to higher-growth, higher-margin businesses while rewiring our organization to work smarter and faster. We have built the foundation and this transaction is a powerful next step in our journey.
Uniting Kimberly-Clark and Kenvue brings together “two highly complementary portfolios filled with iconic, beloved brands and everyday essentials that people trust and count on throughout their lives,” said Kirk Perry, CEO of Kenvue.
“Our teams share a passion for delivering science-backed solutions that play a meaningful role in homes and communities around the world,” he continued. “Together, our combined strengths, expanded capabilities and resources, and broader reach will empower us to innovate even faster and strengthen our category leadership. We truly believe this transaction with Kimberly-Clark will bring greater value to our shareholders, create new and different potential growth opportunities for our talented employees and deliver even more benefits to our customers and consumers.”
Pictured at top: A sign is seen at Kimberly-Clark’s property in Trumbull County.