Kimberly-Clark plans to acquire Kenvue for more than $40 billion, the companies announced today.
The news comes amid ongoing controversy over Kenvue’s Tylenol brand. The White House has made unsubstantiated claims that the product is linked to autism in children when taken during pregnancy.
Kenvue announced today that Jon Halvorson will become its new Chief Digital and Marketing Officer, effective November 17. The Wall Street Journal first reported the news.
The combined company would generate $32 billion in annual revenue, but is subject to shareholder and regulatory approval. Both companies expect the transaction to be completed in the second half of 2026.
Founded in Wisconsin more than 150 years ago, Kimberly-Clark has approximately 38,000 employees and primarily manufactures paper products, including Huggies, Kleenex, Didend, Poise, Cottonelle, Scott and Pull-Ups.
Kenvue was previously the consumer health division of Johnson & Johnson, which announced its intention to spin off the brand group at the end of 2021 to focus more on pharmaceuticals and medical devices. Customer-facing brands such as Tylenol, Band-Aid, Zyrtec, Listerine, Neutrogena, and Aveeno landed with Kenvue completing its IPO in May 2023.
Kimberly-Clark’s plan to acquire the company signals that it does not expect the current controversy surrounding Tylenol to have a long-term impact on its value, but Kimberly-Clark’s stock price fell following the announcement. Kenvue’s stock price soared on the news on November 3.
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