NZ regulator requires Kimberly-Clark to sell local unit

New Zealand's Commerce Commission has mandated that Kimberly-Clark divest Kenvue’s feminine hygiene product line in Australia and New Zealand as part of its review of the proposed $49 billion USD global merger between the two consumer goods giants. The commission is assessing whether the acquisition will "substantially lessen competition" in the local market, particularly in the feminine hygiene sector, where both companies currently hold significant market share with competing brands such as U by Kotex, Stayfree, and Carefree.

To address potential competition concerns, Kimberly-Clark has agreed to sell the entirety of Kenvue’s feminine hygiene business in the region. The commission has published a "Statement of Preliminary Issues" outlining key concerns and is inviting public and stakeholder feedback by March 17, 2026. A final decision is expected by April 28, 2026, though this timeline could be extended if further information is required.

The proposed merger, which has already received shareholder approval, aims to combine Kimberly-Clark and Kenvue into one of the world’s largest consumer health and personal care companies. If approved by regulators, the deal is expected to close later in 2026 or in 2027.