Kenvue

Who owns Kenvue?
Kenvue is a publicly traded company listed on the New York Stock Exchange under the ticker KVUE. No single shareholder holds a controlling stake. Institutional investors hold the majority of shares. Johnson & Johnson fully divested its Kenvue shares in August 2023 through an exchange offer. Upon completion of the Kimberly-Clark acquisition, expected in Q4 2026, Kenvue will become a wholly owned subsidiary of Kimberly-Clark Corporation.

Is Kenvue being acquired?
Yes. On November 2, 2025, Kimberly-Clark announced a definitive merger agreement to acquire Kenvue for approximately $48.7 billion in cash and stock. Shareholders of both companies approved the transaction on January 29, 2026. The HSR waiting period expired on February 4, 2026. The transaction is expected to close in Q4 2026, subject to foreign regulatory approvals.

What is Kenvue's revenue?
Kenvue reported FY2025 net sales of $15.1 billion, down 2.1% from $15.5 billion in FY2024. FY2025 net income was $1.47 billion, with diluted EPS of $0.76 and adjusted diluted EPS of $1.08. In Q1 2026, net sales grew 3.2% and organic sales grew 1.2%. In Q2 2026, the company reported its third consecutive quarter of growth across all segments and regions.

Who is the CEO of Kenvue?
Kirk Perry serves as CEO of Kenvue. He was named interim CEO in early 2025 following the termination of previous CEO Thibaut Mongon, and was named permanent CEO in November 2025. Under Perry's leadership, Kenvue has delivered three consecutive quarters of net and organic sales growth and is executing a 2026 Restructuring Initiative targeting $250 million in pre-tax charges for supply chain optimization.

Is Kenvue still publicly traded?
Yes, Kenvue continues to trade on the New York Stock Exchange under the ticker KVUE as of August 2026. Upon completion of the Kimberly-Clark acquisition, expected in Q4 2026, Kenvue shares will be delisted as the company becomes a wholly owned subsidiary of Kimberly-Clark.

When was Kenvue founded?
Kenvue was spun off from Johnson & Johnson in May 2023 via an IPO that raised $3.8 billion. J&J completed the full separation in August 2023 through an exchange offer. The company was created to operate independently as a focused consumer health company, allowing J&J to concentrate on its pharmaceutical and medical device businesses.

What brands does Kenvue own?
Kenvue owns Tylenol, Listerine, Band-Aid, Neutrogena, Aveeno, Zyrtec, Johnson's, Motrin, Benadryl, Sudafed, Pepcid, Imodium, Nicorette, Visine, and Calpol. These brands hold number-one or number-two market positions in their respective categories.

Where is Kenvue headquartered?
Kenvue is headquartered in Summit, New Jersey, USA. The company relocated from Skillman, New Jersey, where it was initially based following the spin-off from Johnson & Johnson. Kenvue is incorporated in Delaware and maintains manufacturing facilities, research and development centers, and distribution networks across the United States, Europe, Asia, and Latin America.

What is the Kimberly-Clark Kenvue merger?
The Kimberly-Clark Kenvue merger is a pending acquisition announced on November 2, 2025, under which Kimberly-Clark will acquire all outstanding Kenvue shares in a cash and stock transaction valued at approximately $48.7 billion enterprise value. The combined company would generate approximately $32 billion in annual revenue and $7 billion in adjusted EBITDA. Kimberly-Clark identified $1.9 billion in cost synergies and $500 million in revenue synergies. The transaction is expected to close in Q4 2026.

Kenvue's origins trace to Johnson & Johnson's consumer health division, which built a portfolio of iconic brands over more than a century. Band-Aid was introduced in 1920 as one of J&J's first consumer products. Tylenol followed in 1955. Neutrogena was acquired in 1994, Aveeno in 1999, and Listerine came to J&J through the 2006 Pfizer consumer healthcare acquisition. Zyrtec was switched from prescription to over-the-counter status in 2008.

By the late 2010s, Johnson & Johnson's management concluded that the consumer health division had different growth characteristics and capital requirements than the pharmaceutical and medical device businesses. J&J announced plans to separate consumer health into an independent company in 2021. Kenvue conducted its IPO in May 2023, raising $3.8 billion at a valuation of approximately $41 billion, in the largest U.S. IPO since 2021. J&J completed the full separation in August 2023 through an exchange offer that allowed J&J shareholders to swap their J&J shares for Kenvue shares.

As an independent company, Kenvue faced challenges including volume declines in the U.S. self-care category, trade inventory reductions by retail customers, and inflationary pressure on input costs. The company's FY2024 net sales were $15.5 billion, and FY2025 net sales declined 2.1% to $15.1 billion. In early 2025, CEO Thibaut Mongon was terminated, and Kirk Perry was named interim CEO. Perry was named permanent CEO in November 2025.

On November 2, 2025, Kenvue announced the merger agreement with Kimberly-Clark. The transaction values Kenvue at an enterprise value of approximately $48.7 billion, representing a multiple of approximately 14.3x Kenvue's last-twelve-months adjusted EBITDA, or 8.8x including expected run-rate synergies of $2.1 billion net of reinvestment. Kenvue shareholders will receive a combination of cash and Kimberly-Clark stock. Both companies' shareholders approved the transaction on January 29, 2026. The HSR waiting period expired on February 4, 2026. The transaction remains subject to foreign regulatory approvals and is expected to close in Q4 2026.

In Q1 2026, Kenvue reported net sales growth of 3.2% and organic sales growth of 1.2%, with adjusted diluted EPS of $0.27. In Q2 2026, the company reported its third consecutive quarter of net and organic sales growth, with gains across every segment and region. Due to the pending transaction, Kenvue is not providing forward-looking guidance.

On August 20, 2026, Kenvue agreed to sell its feminine care business in Brazil to Essity for USD 284 million on a cash and debt-free basis. The divestiture includes the market-leading brands Carefree, Sempre Livre, and o.b. in Brazil. The sale narrows Kenvue's portfolio ahead of the pending Kimberly-Clark acquisition and gives Essity consolidated ownership of the Carefree and o.b. brands across multiple continents. The transaction is subject to customary closing conditions.

Kenvue has committed to science-based emissions reduction targets and has set a goal of carbon neutrality by 2050. The company publishes an annual ESG report detailing its environmental performance, social impact, and governance practices. Kenvue's sustainability strategy focuses on sustainable packaging, responsible sourcing, and supply chain optimization.

The company has committed to making 100% of its packaging recyclable, reusable, or compostable. Kenvue is working to reduce virgin plastic use in its packaging and has invested in post-consumer recycled content. The company's supply chain optimization initiatives, part of its "Our Vue Forward" program, target operational efficiency and waste reduction.

Kenvue faces regulatory oversight as a manufacturer of over-the-counter pharmaceutical products. The company's OTC medications are regulated by the FDA in the United States and equivalent agencies in international markets. Product safety, labeling, and advertising claims are subject to regulatory review. The company has experienced product recalls, including recalls of certain Neutrogena and Aveeno sunscreen products in 2021 due to benzene contamination, which occurred under J&J's stewardship before the spin-off.

Kenvue was added to the S&P 500 Dividend Aristocrats index, reflecting its dividend payment history inherited from Johnson & Johnson. The company has received recognition for its workplace culture and diversity programs. Kenvue's brands have received consumer recognition awards, including Neutrogena being named a top dermatologist-recommended skincare brand in multiple consumer surveys.

Kenvue has faced regulatory and legal scrutiny related to product safety. In 2021, before the spin-off, J&J recalled certain Neutrogena and Aveeno aerosol sunscreen products after testing detected benzene, a known carcinogen, in some samples. Kenvue inherited related litigation and has worked to resolve claims stemming from products manufactured under J&J's ownership.

The company has faced lawsuits related to talc-containing Johnson's Baby Powder, a product that was discontinued in North America in 2020. While the talc litigation primarily affects Johnson & Johnson, Kenvue has been named in some cases related to historical marketing of Johnson's Baby products.

The pending Kimberly-Clark acquisition has drawn scrutiny from regulators and proxy advisory firms. Some Kenvue shareholders questioned whether the $48.7 billion valuation adequately reflected the company's brand portfolio value, particularly given that Kenvue's stock traded above the implied deal price in the months following the announcement. Both companies' shareholders approved the transaction on January 29, 2026.

Kenvue's OTC products are subject to FDA regulation, including manufacturing standards, labeling requirements, and adverse event reporting. The company must navigate complex regulatory requirements across multiple jurisdictions while maintaining product safety and efficacy.