EU clears Suzano-Kimberly-Clark USD 3.4bn tissue joint venture

The European Commission has unconditionally approved the USD 3.4bn tissue and personal care joint venture between Suzano and Kimberly-Clark, covering international operations including the Kleenex brand. Suzano will hold 51% of the combined international tissue business. The deal, announced in June 2025, still awaits clearance from the UK competition authority.

Why this mattersClearance removes a major regulatory hurdle for one of the tissue sector's largest consolidation deals as producers seek scale amid overcapacity.

• European Commission approved the joint venture unconditionally on 21 September 2026
• Deal value stated at USD 3.4bn
• Suzano will hold 51% of the combined international tissue business, including Kleenex
• Transaction was first announced in June 2025
• UK Competition and Markets Authority review is still pending

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