Tylenol Maker Kevenue will be acquired by Kimberly Clark

Kimberly-Clark announced Monday it’s struck an agreement to buy Kenvue in a deal valued at $48.7 billion.

The combined company would bring together brands like Huggies and Kleenex with the likes of Band-Aid and Tylenol. It would generate estimated 2025 annual net revenues of roughly $32 billion.

Kenvue spun out of Johnson & Johnson in May 2023. Since then, shares have fallen almost 35% from their initial public offering price.