Kimberly-Clark’s acquisition of Kenvue approved subject to sale of Carefree and Stayfree brands

The ACCC has approved Kimberly-Clark Corporation’s proposal to acquire Kenvue Inc., subject to conditions that Kimberly-Clark divest Kenvue’s Carefree and Stayfree period care brands in Australia to a purchaser approved by the ACCC. Kimberly-Clark and Kenvue both supply period care products in Australia. Kimberly-Clark supplies tampons, sanitary pads and panty liners under the U by Kotex brand, while Kenvue supplies these products under the Carefree and Stayfree brands. “We consider that without the divestiture of the Carefree and Stayfree brands, the acquisition could substantially lessen competition in the supply of period care products in Australia,” ACCC Commissioner Dr Philip Williams said. Kimberly-Clark and Kenvue are two of the three major suppliers of period care products in Australia. The third, Essity, supplies the Libra and TOM Organic brands. Without the divestiture conditions, Kimberly-Clark’s acquisition of Kenvue would have reduced the number of major suppliers from three to two. “The divestiture will preserve an independent competitor in the supply of period care products in Australia and maintain the competition that would otherwise be lost through the acquisit...