Kirkland Advises Kimberly-Clark on Strategic Partnership with Suzano at $3.4 Billion Enterprise Value
Kirkland & Ellis advised Kimberly-Clark Corporation (NYSE: KMB) on an agreement with Suzano S.A. (NYSE: SUZ) to form a strategic partnership, which will create a preeminent international tissue and professional products company. Kimberly-Clark will own a 49% interest in the new venture, which will include substantially all the assets of its International Family Care and Professional Business (“IFP”), and Suzano will own 51%. Kimberly-Clark will contribute substantially all the assets of its IFP business to the venture, which encompasses sales in more than 70 countries, 22 manufacturing facilities and approximately 9,000 employees. IFP’s more than 40 regional brands will be owned by the new entity, and its five global brands, including Scott, Kleenex, Viva, WypAll and Kimberly-Clark Professional, will be licensed to the venture by Kimberly-Clark under a long-term agreement. Kimberly-Clark’s interests in Mexico and its joint venture in South Korea are outside the scope of this transaction. The business Kimberly-Clark is contributing to the venture generated approximately $3.3 billion of net sales in 2024. The transaction contemplates an implied current enterprise value for the business of approximately $3.4 billion. The transaction was announced June 5, 2025 and is expected to close mid-2026.
Read the transaction press release
The Kirkland team included corporate lawyers Kim Hicks, Edward Lee, Steven Choi, Emily Lichtenheld, Bridget Hamway, Brett Mele, Cason Liles, Pauline Hodencq, Alfredo Rosales, Saam Namazi and Anna Geml; tax lawyers Sara Zablotney, Rebecca Leigh Fine, Natalie Kannan, Peter Abbott and Cosmos Fung; technology & IP transactions lawyers Shellie Freedman, Amber Harezlak, Melissa Moreno, Jackson Zebovitz, Aseem Jha, Emma Flett, Joanna Thomson and Stephen Coudounaris; antitrust & competition lawyers Andrea Murino, Rebekah Scherr, Alasdair Balfour, Sion Davies, Ankita Gulati, Jessica Ouchai and Eve Richmond-Short; capital markets lawyers Rachel Sheridan, Christina Thomas and Alborz Tolou; executive compensation lawyers Rob Fowler, Stephanie Jeane and Diana Soriano; employee benefits lawyers Maureen O’Brien and Caitlin Bradford; employment & labor lawyers Christie Alcala and Mallory McKenzie; litigation lawyer Nick Niles; debt finance lawyers Melissa Hutson and Andy Veit; environmental transactions lawyers Paul Tanaka, Cheyenne Overall and Jacob Manheim; and real estate lawyers Andy Van Noord, Vincent Forcinito and Hayden Steves.
