Kimberly-Clark Completes Kenvue Acquisition, Uniting 10 Billion-Dollar Brands

The deal moves from a proposed combination to the work of integrating brands with different retail needs.

For beauty retailers, Neutrogena’s place in the enlarged company is particularly relevant: Kenvue’s latest results show that its beauty business enters this transition with weaker growth than its self-care and essential-health divisions.

In its third-quarter results released October 30, Kenvue reported net sales growth of 3.2% and organic sales growth of 2.9%. Skin Health and Beauty net sales increased just 0.1%, while organic sales fell 0.5%. The company attributed that organic decline to U.S.

distribution losses and promotional timing, alongside retailer negotiations in Europe. The contrast gives the integration a practical retail test…