The maker of popular brands like Huggies and Kleenex announced Monday that it’s acquiring the company behind Tylenol in a massive $48.7 billion deal.

The transaction, which is expected to close in the second half of 2026, will be a combination of cash and stock. The merger sees Kimberly-Clark, the maker of hygienic products, acquire Kenvue, the consumer company behind Tylenol.

This deal will bring together “two iconic American companies” possessing $10 billion brands, like Huggies and Kleenex, and is projected to create a combined company of approximately $32 billion in annual net revenue, the companies said in a statement .

“Our combination with Kimberly-Clark unites two highly complementary portfolios filled with iconic, beloved brands and everyday essentials that people trust and c

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