The European Commission on May 10 granted unconditional approval for Suzano’s proposed acquisition of Kimberly-Clark IFP, confirming that the transaction raises no competition concerns in the European Economic Area.
The decision under the EU Merger Regulation clears Suzano’s takeover of Kimberly-Clark IFP NewCo B.V., a newly formed entity that bundles Kimberly-Clark’s International Family Care & Professional tissue business in Europe and several other regions. Suzano, a leading global producer of bleached eucalyptus kraft pulp (BEKP), would combine its upstream pulp position with Kimberly-Clark IFP’s downstream tissue operations covering personal and professional tissue products such as toilet paper, tissues and paper towels.
The Commission’s investigation focused on the vertical link between BEKP supply and tissue paper production, examining whether the deal could restrict access to BEKP or distort competition in the EEA tissue market. Authorities concluded that competition would not be significantly affected, noting Suzano’s moderate market share in the EEA and the presence of numerous alternative BEKP suppliers, including global exporters and regional producers. The EEA BEKP market is large, well supplied and continues to show available spare capacity, enabling tissue producers to maintain diversified sourcing options.
The Commission also found that tissue manufacturers competing with Kimberly-Clark IFP face limited barriers to switching suppliers, making it unlikely they would be disadvantaged through higher pulp prices or restricted supply. Even if the merged entity sought to favour its own tissue operations, Kimberly-Clark IFP’s relatively limited position in the EEA tissue market would constrain its ability to profitably expand sales volumes, reducing any incentive to discriminate against rivals.
The transaction was notified on March 31, 2026 and cleared during the Commission’s standard Phase I review process, reflecting the view that the deal would not significantly impede effective competition in the region.
Suzano, headquartered in Brazil, supplies BEKP worldwide and also produces tissue paper domestically. Kimberly-Clark IFP focuses on tissue manufacturing and sales across Europe, Africa, Latin America, the Middle East and parts of Asia and Oceania.
