Kimberly-Clark to acquire Band-Aid, Neutrogena owner Kenvue for $48.7 billion

Kimberly-Clark Corporation has announced plans to acquire Kenvue Inc., the maker of popular consumer health brands such as Band-Aid and Neutrogena, in a deal valued at $48.7 billion.

According to media reports, following the completion of the transaction, Kimberly-Clark shareholders will own approximately 54% of the combined company, while Kenvue shareholders will hold the remaining 46%.

In a statement, Kenvue said the combination will create a $32 billion global health and wellness leader by bringing together complementary portfolios of trusted consumer brands.

The transaction is expected to close in the second half of 2026 and will be financed through a combination of cash and debt, supported by committed funding from JPMorgan Chase Bank.

Reuters reported that Kenvue shareholders will receive $3.50 per share plus 0.15 shares of Kimberly-Clark stock for each Kenvue share held. If the deal does not go through, either party may be liable to pay a termination fee of $1.12 billion.

Following the merger, Kimberly-Clark CEO Mike Hsu will serve as the Chairman and CEO of the combined company.

“By uniting our resources, talent, expertise, and geographic reach, we will unlock new opportunities to innovate faster and strengthen our leadership across categories that matter most to consumers through every stage of life,” the company added.