DALLAS – Kimberly-Clark Corp. today announced that it has completed its acquisition of Kenvue. The combination creates a global consumer health and wellness leader that manages a diverse portfolio that includes 10 billion-dollar brands.
"Today marks a defining moment in Kimberly-Clark's 154-year history as we welcome Kenvue and hit the ground running as one company," said Mike Hsu, chairman and CEO of Kimberly-Clark.
Added Hsu, "I am deeply grateful to our Kimberly-Clark and Kenvue teams around the world for enabling this next step. We share a rich heritage: pioneering entire categories and forming deep, lifelong bonds with consumers around the world as we help generations of people take care of themselves and their loved ones, every day."
Kimberly-Clark is now equipped to combine consumer insight, groundbreaking science and innovation, brand-building expertise and strong commercial execution to lead the future of consumer health, Hsu said. "Our focus now is to move with speed and purpose to unlock the full potential of this combination."
The company leads in many of the industry's largest, most attractive categories, including baby care, women's health and active aging. Its 10 billion-dollar brands are Huggies, Listerine, Cottonelle, Neutrogena, Depend, Tylenol, Kleenex, Johnson's Baby, Kotex and Scott.
Kimberly-Clark intends to elevate the standard of care through three strategic pillars: better care; more hands; and smarter health. The company said its combined brands will serve consumers more comprehensively throughout their health and care journeys.
Kimberly-Clark reaffirmed its expectation of run-rate synergies of approximately $2.1 billion, consisting of approximately $1.9 billion in cost synergies, captured in the first three years and approximately $500 million in incremental profit from revenue synergies, partially offset by reinvestment of approximately $300 million, captured within four years post-close.
The company said it has substantially built its pipeline of cost and revenue initiatives as part of a robust integration plan.
As previously announced, Kimberly-Clark will operate with four business segments:
• North America, a business generating approximately $18 billion in sales annually;
• Asia Pacific Focus Markets, which will include Greater China, Australia / New Zealand, South Korea, and Indonesia, generating approximately $4.3 billion in annual sales;
• Europe, Middle East, and Africa (EMEA), with approximately $5 billion in annual sales; and
• Enterprise Markets, which will include Latin America (including Brazil), India, Southeast Asia markets, and Japan, generating approximately $4.3 billion in annual sales.
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