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Kimberly-Clark To Sell Majority of $3.4B Global Tissue Business

Kimberly-Clark on Thursday announced a partnership with Brazilian pulp and paper producer Suzano to split ownership of Kimberly-Clark's international tissue and paper products business.
Kimberly-Clark announced on January 24, 2024, that it will sell a majority stake in its tissue and personal care business in Brazil and the Pacific region to Sofidel Group for $1.15 billion, as part of a strategy to divest non-core assets and focus on higher-margin products. The deal includes well-known brands such as Neve, Scott, and Snow, and is expected to close in the second half of 2024, pending regulatory approval. This move is part of a broader $3.4 billion divestiture plan that also involves selling its tissue and personal care business in Canada to First Quality Enterprises, Inc. for $575 million, and its tissue business in Egypt to JBS S.A. for $100 million. The transactions aim to streamline operations and enhance Kimberly-Clark's focus on its core categories, such as consumer and professional products in North America and developing markets.

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