Kimberly-Clark's $4 billion international tissue unit draws final bids from three companies

From Yahoo Finance: 2025-04-24 00:48:00

Southeast Asia’s RGE, APP, and Brazil’s Suzano SA are final bidders for Kimberly-Clark’s $4 billion international tissue business. The three companies are expected to submit bids by mid-May. Kimberly-Clark hired Goldman Sachs and Centerview Partners for the sale, generating $500 million in annual EBITDA.

The sale proceeds amidst U.S. trade tariffs affecting Kimberly-Clark’s business outlook. The international tissue business, however, will not be impacted. RGE seeks global expansion, having previously acquired Vinda. Suzano also eyes growth after failed attempts to acquire International Paper and previous deals with Kimberly-Clark.

RGE, led by Indonesian billionaire Sukanto Tanoto, won a bid for Vinda in 2023 and acquired the company in 2024. Suzano’s plans for acquisitions align with its participation in Vinda’s sale and previous talks with International Paper. In 2022, Suzano acquired Kimberly-Clark’s tissue paper operations in Brazil.

Read more: Kimberly-Clark’s $4 billion international tissue unit set for three-way M&A fight, sources say