Kimberly-Clark has agreed to acquire Kenvue in a transformative $48.7 billion deal that marks one of the largest consumer health consolidation moves of the decade. The acquisition expands Kimberly-Clark’s portfolio into legacy high-trust OTC health verticals and broadens its footprint across international FMCG, feminine care, skin care and personal health categories. Analysts see this as a strategic identity shift away from pure tissue and hygiene rotation toward repeat-purchase medical-grade consumer wellness. Dealmakers also suggest this acquisition could spark a new round of balance sheet leverage restructurings across global CPG, while public equity participants assess whether future synergies outweigh near-term integration execution risk.