UK CMA Clears $3.4bn JV for Suzano to Acquire Kimberly-Clark Tissue Stake
SUZ•The UK CMA approved Suzano’s $3.4bn joint venture with Kimberly-Clark, under which Suzano will acquire a 51% stake in the international tissue business for $1.73bn cash. The Netherlands-based JV spans 22 plants across 14 countries, with one million-tonne capacity, 9,000 staff and $3.3bn 2024 net sales.
1. Regulatory Approval
The UK Competition and Markets Authority has granted unconditional clearance for the $3.4bn joint venture between Suzano International and Kimberly-Clark, concluding its phase 1 review initiated in March.
2. Joint Venture Structure
Under the agreement, Suzano will pay $1.73bn in cash to secure a 51% controlling interest in Kimberly-Clark’s international tissue operations, while Kimberly-Clark retains a 49% stake and holds a future purchase option.
3. Operational Footprint and Brands
Headquartered in the Netherlands, the new venture covers 22 manufacturing sites across 14 countries with annual one million-tonne capacity, employs about 9,000 people and sells brands including Kleenex, Scott, Cottonelle and WypAll.
4. Financial Scale and Strategic Impact
The acquired operations generated $3.3bn in net sales in 2024; prior European clearance and a long-term licensing deal for global brands position Suzano to broaden its international tissue presence.
