Kimberly-Clark Seeks EU Clearance for $40bn Kenvue Acquisition

Kimberly-Clark (KMB) has filed for European Union regulatory approval of its proposed $40bn acquisition of Kenvue (KVUE), according to documents published on the European Commission's website, as the consumer goods company advances its most ambitious deal in years.

Kimberly-Clark announced the takeover in November last year, with the transaction expected to close in the second half of 2026. The Dallas-based group has forecast annual cost savings of $2.1bn from the combination.

The addition of Kenvue's portfolio — which spans oral care brand Listerine, skincare labels Aveeno and Neutrogena, and pain reliever Tylenol — is expected to lift combined annual revenues to approximately $32bn. Kenvue was spun out of Johnson & Johnson (JNJ) via an initial public offering in May 2023.

The EU filing marks a further step in the regulatory process for the deal. Australia has already granted conditional clearance, requiring Kimberly-Clark to divest the Carefree and Stayfree feminine care brands as a condition of its approval.