Kimberly-Clark announced a $48.7 billion deal to acquire Kenvue, creating a consumer staples giant with brands like Huggies and Band-Aid. The transaction is expected to close in the second half of 2026, bringing together 10 billion-dollar brands under one company. Kenvue spun out of Johnson & Johnson in 2023.

The deal comes after President Donald Trump’s unfounded claims linking acetaminophen in Tylenol to autism risk, impacting Kenvue’s stock. The company has pushed back, emphasizing Tylenol’s importance for pregnant women. Acetaminophen is widely used in the U.S. Kenvue expects $1.9 billion in cost synergies in the first three years post-acquisition.

Kimberly-Clark’s acquisition of Kenvue aims to address shifting consumer demand and shopping behavior in the consumer packaged goods industry. The deal follows Kimberly-Clark’s divestiture of its international tissue business and exit from making private-label diapers for Costco. Once the deal closes, Kimberly-Clark will own health-care brands like Sudafed and Pepcid.

Read more at CNBC: Kimberly-Clark to buy Kenvue in $48.7 billion deal