Kimberly-Clark agrees to buy Kenvue for $48.7 billion

Kimberly-Clark, the maker of Huggies and Kleenex, entered a definitive agreement in November 2025 to acquire Kenvue, the consumer health company behind brands like Tylenol and Listerine, for roughly $48.7 billion. The deal ranks among the largest in the consumer staples industry in years and would combine two of the best-known household name portfolios in North America under one roof.

The acquisition was still awaiting regulatory approval and an expected 2026 closing at the time it was announced, a standard timeline for a deal of this size given the antitrust review a combination of two major consumer goods companies typically triggers. Analysts framed the tie-up as part of a broader trend of consumer goods giants consolidating to better compete against private-label and discount alternatives that have chipped away at brand loyalty in recent years.