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Kimberly-Clark’s $40 Billion Kenvue Takeover Clears EU Antitrust Review

By  |  October 13, 2026
Kimberly-Clark

European regulators approve the consumer products merger after Kimberly-Clark agrees to sell feminine care brands to address competition concerns.

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    Kimberly-Clark Corp.’s planned $40 billion acquisition of Kenvue Inc. has received conditional approval from European Union competition authorities, bringing the consumer products companies closer to completing one of the industry’s largest transactions.

    The European Commission cleared the deal on Tuesday after Kimberly-Clark committed to selling several feminine hygiene brands in Europe, according to Reuters.

    The decision removes a major European regulatory obstacle for the maker of Huggies diapers and Kleenex tissues as it pursues a combination with Kenvue, the consumer health company behind brands including Tylenol.

    The transaction would bring together two major portfolios spanning personal care, household essentials and over-the-counter health products.

    Asset Sale Addresses Competition Concerns

    The approval hinges on Kimberly-Clark relinquishing its feminine care businesses across the European Economic Area, a concession designed to prevent the combined company from gaining excessive influence in certain national markets.

    Regulators identified the Czech Republic, Estonia and Slovakia as markets where the acquisition could significantly reduce competition in tampons, Reuters reported. The concern centered on the potential loss of an established supplier following the merger.

    Related: Kimberly-Clark Seeks EU Antitrust Approval for Kenvue Takeover

    The assets earmarked for sale include Kotex and its Lidie line, along with the Camelia and Record brands. The divestiture covers the company’s tampon and other feminine hygiene brands in the region.

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    Turkish Distributor to Acquire Businesses

    Turkey’s Dilek Gida Uretim has been selected to take over the operations, providing a new owner for the brands Kimberly-Clark must surrender.

    The European Commission approved Dilek as the purchaser after assessing its ability to finance and manage the businesses, according to Reuters. Regulators concluded that the distributor had the resources and commercial experience needed to keep the operations competitive.

    The arrangement addresses the Commission’s objections by transferring the affected brands to a separate operator rather than allowing them to become part of the merged company’s portfolio.

    A Key Step for the Transaction

    The EU ruling allows Kimberly-Clark to advance its proposed acquisition while accepting a narrower presence in Europe’s feminine hygiene market.

    The decision also illustrates how competition regulators can impose targeted asset sales on major corporate combinations, allowing broader transactions to proceed while seeking to protect competition in individual product categories.

    Although the European approval resolves the antitrust concerns identified by the Commission, the announcement does not establish whether all other conditions required to complete the acquisition have been fulfilled.

    Source: Reuters