In a landmark move that could reshape the global consumer health and hygiene market, Kimberly-Clark Corp., the maker of Huggies and Kleenex, announced Monday it will acquire Kenvue, the Tylenol and Band-Aid parent company, in a deal valued at approximately $48.7 billion.
The transaction, which has already received unanimous approval from both companies’ boards, will unite two powerhouse portfolios of household staples—from Kleenex, Kotex, and Scott to Tylenol, Neutrogena, Aveeno, and Listerine—creating a new global titan in the health and personal care industry.
Legal and Financial Heavyweights Behind the Deal
A formidable lineup of legal and financial advisors is steering the high-stakes acquisition. Kirkland & Ellis LLP leads counsel for Kimberly-Clark, joined by Gibson Dunn & Crutcher LLP and Arnold & Porter Kaye Scholer LLP on specialized legal and healthcare matters. Cravath, Swaine & Moore LLP is representing Kenvue.
On the financial side, PJT Partners LP and J.P. Morgan Securities are advising Kimberly-Clark, while Centerview Partners and Goldman Sachs & Co. represent Kenvue.
Financing will come through existing cash, new debt issuance, and proceeds from the upcoming sale of a 51% stake in Kimberly-Clark’s international family care and professional unit. JPMorgan Chase Bank NA has committed to the funding package.
