Lates News

The parent company of Kleenex, Kimberly-Clark, announced the establishment of a joint venture valued at $3 billion to spin off its international business for Kleenex and other tissue products outside the United States, and majority ownership will be sold to Brazilian pulp manufacturer Suzano. Suzano will invest $1.7 billion to acquire a 51% stake in the division, while Kimberly-Clark will hold a 49% stake in the joint venture. The new company will have over 40 regional brands in international household and professional care business, including Kleenex and Scott, among five global brands that will be licensed to the new company under a long-term agreement.