:max_bytes(150000):strip_icc()/GettyImages-2211486078-357707b1c3a547b1b576e275d0aaba4c.jpg?w=1920&resize=1920,1267&ssl=1 "Kimberly-Clark To Sell Majority of .4B Global Tissue Business")
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key takeaways
- Kimberly-Clarke said on Thursday that she agreed to create a new venture with Brazilian paper products firm Sujano.
- Sujano will own a 51% stake in the company’s international tissue and paper products, while Kimberly-Clarke owns the remaining 49%.
- Clenex and Haggiz Parents said that earlier this year he wanted to focus on high growth businesses with high profit margin.
The Kimberly-Clarke (KMB) on Thursday announced a partnership with Brazilian pulp and paper manufacturer Sujano (SUZ) to divide the ownership of the business of international tissue and paper products of Kimberly-Clarke.
The cotton company of the cotton toilet paper and Hugis Diapers said on Thursday that it would be the owner of a 49% stake in the business, which Kimberly-Clarke, in an attempt to reorganize earlier this year, named “international family care and professional” (IFP) segment, in which Suzano held a majority 51% stake.
The International Tissue Business Kimble-Clarke is generating around $ 3.3 billion in sales in 2024, stating that it is currently worth about $ 3.4 billion. The IFP segment has more than 40 regional brands owned by the rights of the new enterprise, while five global brands such as Clenex and Scott paper towels will be licensed for the enterprise, except for the operation of Kimberly-Clarke in Mexico and South Korea.
The CEO says Kimberly-Clarke is focusing on ‘high growth, high margin businesses’
Kimberly-Clarke CEO Mike Hsu said, “After the investments of those years, which strengthen Kimberly-Clarke and IFP, we are excited to expand our partnership with Sujano and focus on our high growth, high margin businesses to the portfolio of Kimberly-Clarke.”
Companies said that Sujano will later get a 49% stake of Kimberly-Clarke “to buy under some specified time and certain conditions.” The deal announced on Thursday is expected to close by the middle of next year.
Kimberly-Clarke was at the top of the first quarter profit, while sales decreased. When the company reported its results in April, it also reduced its entire year profit forecast for the possible impact of the tariff.
Kimberly-Clarke shares were nearly 2% below on Thursday, while Sujano’s US-listed stocks increased by 5%.
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