Copyright Adweek
Kimberly-Clark intends to acquire Kenvue for more than $40 billion, the two companies announced today. The news comes amid ongoing controversy around Kenvue’s Tylenol brand, which has fielded unsubstantiated claims from the White House linking it to autism in children when taken during pregnancy. Kenvue today announced that Jon Halvorson will be its new chief digital and marketing officer, effective Nov. 17. The Wall Street Journal first reported the news. The combined company would generate $32 billion annually but is subject to shareholder and regulatory approvals. The companies expect the deal to close in the second half of 2026. Founded more than 150 years ago in Wisconsin, Kimberly-Clark has roughly 38,000 employees and makes mostly paper products, including Huggies, Kleenex, Depend, Poise, Cottonelle, Scott, and Pull-Ups. Kenvue was formerly the consumer health division of Johnson & Johnson, which announced its intention to spin off a group of brands in late 2021 to focus more on pharmaceuticals and medical devices. Customer-facing brands like Tylenol, Band-Aid, Zyrtec, Listerine, Neutrogena, and Aveeno landed with Kenvue, which had its IPO in May 2023. Kimberly-Clark’s plan to acquire company signals that it doesn’t expect the current controversy around Tylenol to have a long-term impact on its value, though Kimberly-Clark shares did fall after the announcement. Kenvue’s share prices jumped at the news on Nov. 3.
