According to CNBC, Kimberly-Clark completed its acquisition of Kenvue on Monday, almost a year to the day after the deal was announced. The company reaffirmed targets that include $1.9 billion in cost and expense reductions within three years and $500 million in incremental profit from revenue growth, partly offset by $300 million in reinvestments. Kimberly-Clark CEO Michael Hsu said the company aims to accelerate growth at Kenvue by combining capabilities and developing its existing product categories. He also said Kimberly-Clark assessed Tylenol’s legal and reputational risks and believes the research supports the drug’s safety and efficacy. Kimberly-Clark shares rose 0.3% Monday to close at $108.25.
