Kimberly-Clark is close to selling its Kleenex and tissue businesses outside North America to Brazil’s pulp giant Suzano for about $3.5 billion, according to the Wall Street Journal.
The move is part of the American corporation’s 2024 strategy to focus on more profitable areas and reorganize into three core units.
The international tissue division—home to brands like Kleenex, Andrex, and WypAll—generated annual sales of under $3.5 billion and had the lowest profit margins.
A sale would leave Kimberly-Clark with its stronger North American unit and international personal-care business. It would follow last year’s $640 million sale of its protective gear unit to Australia’s Ansell.
Meanwhile, Kimberly-Clark plans to invest $2 billion in US manufacturing over the next five years.