Kimberly-Clark closes $48.7B Kenvue acquisition creating giant with Tylenol and Huggies
Kimberly-Clark just closed a massive $48.7 billion acquisition of Kenvue.
The short version
- The deal brings together 10 brands with at least $1 billion in annual sales.
- Kenvue is the maker of Tylenol, Neutrogena and Johnson’s Baby.
- Its global headquarters are right here in Summit, New Jersey.
Why it matters to you. For shoppers walking the aisles in local stores, the massive corporate merger unites everyday medicine cabinet staples under one corporate roof right here in the Garden State.
Kimberly-Clark, the global consumer goods company based in Irving, Texas, just closed its $48.7 billion acquisition of Kenvue, the Summit-based consumer health company that separated from Johnson & Johnson in 2023. Kenvue opened its global headquarters in Summit in March 2025, bringing high-profile operations to New Jersey.
The blockbuster deal creates a combined company featuring 10 billion-dollar brands, including Tylenol, Neutrogena, Johnson’s Baby, Listerine, Huggies, Kleenex, Cottonelle, Scott, Kotex and Depend. “Today marks a defining moment in Kimberly-Clark’s 154-year history as we welcome Kenvue and hit the ground running as one company,” Kimberly-Clark Chairman and CEO Mike Hsu said in a statement.
Under the terms of the agreement, Kenvue shareholders receive $3.50 in cash and 0.14625 shares of Kimberly-Clark common stock for each share held. Shares of Kenvue on the New York Stock Exchange under the ticker symbol KVUE ceased trading as of the market opening.
Three members of the Kenvue Board of Directors joined the Kimberly-Clark board, including former Kenvue interim CEO Kirk Perry, Domino’s Pizza CEO Richard Allison Jr., and Larry Merlo, the former chief operating officer of CVS. Kimberly-Clark will operate with four business segments, including North America, which generates approximately $18.0 billion in annual sales.
Hsu appeared on CNBC to call the closing day the second most important day after the company's founders day.
