FundComb
Confirmed Control (100%) Announced Transaction verified ConsumerConsumer HealthPersonal CareWellness

Kenvue acquired by Kimberly-Clark

Kimberly-Clark agreed to acquire Kenvue, a US consumer health brand, on Nov 3, 2025.

Transaction summary

Target
Kenvue
Acquirer
Kimberly-Clark
Seller
-
Announced
2025-11-03
Geography
United States
Tags
ConsumerConsumer HealthPersonal CareWellness
Type
Acquisition
Deal type
Control
Stake acquired
100%
First added
2026-08-08
Latest update
2026-08-11

Value and multiples

100% enterprise value

USD 49B

100% enterprise value | USD

Basis: Estimated

Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.

EV / revenue

3.25x

Period: varies by source

Basis: Derived from source data

EV / EBITDA

14.3x

EBITDA: normalised / adjusted

Basis: Public source

Basis

  • USD 49bn enterprise value is a FundComb estimate. Public sources reviewed confirm the transaction, but do not independently disclose every valuation input.
  • Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
  • Implied EV / revenue is 3.25x, calculated from USD 49bn value and USD 15bn revenue.
  • Revenue and multiple inputs are not fully disclosed in public transaction materials reviewed; treat the multiple as an estimate.
  • LTM net sales = FY2024 USD 15.455bn - 9M2024 USD 11.793bn + 9M2025 USD 11.344bn = USD 15.006bn; USD 48.7bn enterprise value / USD 15.006bn = 3.2454x.

Other reviewed estimates

Transaction comps can involve reported or estimated figures from different sources. FundComb uses the values above as the current canonical comp, while preserving prior reviewed estimates below for context.

Mixed-source metric bundle. Added or updated revenue, EV/revenue from Kimberly-Clark to acquire Kenvue; retained EBITDA, EV/EBITDA with their original provenance.
Revenue USD 15bn | EBITDA USD 3.4bn | EV / revenue 3.25x | EV / EBITDA 14.3x
Open evidence
Mixed-source metric bundle. Added or updated revenue, EV/revenue from Kimberly-Clark to acquire Kenvue; retained EBITDA, EV/EBITDA with their original provenance.
Revenue USD 15bn | EBITDA USD 3.4bn | EV / revenue 3.25x | EV / EBITDA 14.3x
Open evidence
Kenvue issuer release dated 2025-11-03 disclosed approximately $48.7bn enterprise value and 14.3x LTM adjusted EBITDA.
EBITDA USD 3.4bn | EV / EBITDA 14.3x
EBITDA derived from disclosed EV ($48.7B) and 14.3x LTM adjusted EBITDA multiple; press release also cites 8.8x including $2.1B run-rate synergies.
EV / EBITDA 14.3x
Open evidence

Source summary

Kimberly-Clark to Acquire Kenvue, Creating a $32 Billion Global Health and Wellness Leader

Confirmed

Kenvue and Kimberly-Clark announced a definitive agreement for Kimberly-Clark to acquire all outstanding Kenvue shares in a cash-and-stock transaction valued at approximately $48.7 billion enterprise value, representing ~14.3x LTM adjusted EBITDA (8.8x with $2.1B run-rate synergies). Combined company is described as a $32 billion global health and wellness leader with 10 billion-dollar brands.

Open source

Kimberly-Clark to acquire Kenvue

Confirmed

The transaction implies an enterprise value of approximately $48.7 billion.

Open source

Kenvue reports third-quarter 2025 results

Confirmed

Net sales were $11.344 billion for nine months ended September 28, 2025 and $11.793 billion in the prior-year period.

Open source

Kenvue reports full-year 2024 results

Confirmed

Fiscal 2024 net sales were $15.455 billion.

Open source