THE WHAT? Australia’s competition regulator has approved Kimberly-Clark’s proposed US$40 billion acquisition of Kenvue, subject to the divestment of Kenvue’s Carefree and Stayfree period care brands in the country.
THE DETAILS The Australian Competition and Consumer Commission (ACCC) requires Carefree and Stayfree to be sold to an approved purchaser, concluding that without the divestment the combination could substantially reduce competition in Australia’s period care market, where Kimberly-Clark and Kenvue are two of the three major suppliers. The wider transaction would add Kenvue brands including Neutrogena and Listerine to Kimberly-Clark’s portfolio, while the company is also seeking regulatory approval for the acquisition in the European Union.
THE WHY? The conditional approval moves Kimberly-Clark’s Kenvue acquisition another step towards completion while demonstrating the competition challenges created by combining two major global consumer health and personal care portfolios.
Source: Reuters
