Kimberly-Clark to acquire Summit-based Kenvue in $48.7 billion deal, creating consumer health giant
Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion, creating a massive consumer health goods company that will generate about $32 billion in annual revenue. Shareholders of Kimberly-Clark will own about 54% of the combined company. Kenvue shareholders will own about 46%. The combined company will have a large stable of household brands under one roof, putting Kenvue’s Listerine mouthwash and Band-Aid side-by-side with Kimberly-Clark’s Huggies and Kleenex tissues. Summit-based Kenvue has spent a brief period as an independent company, spun off by Johnson & Johnson two years ago. (The Associated Press)
The Combined company intends to keep substantial presence in NJ, but make its headquarters in Texas
Mike Hsu, the head of Kimberly-Clark, will be the chairman and CEO of the combined company. And while the combined company intends to maintain a substantial presence in New Jersey – Kenvue held a ribbon-cutting on a headquarters in Summit in March – it will make its headquarters in Irving, Texas. (BINJE)
Vote in the 2025 Elections
The differences between Ciattarelli and Sherrill in NJ's race for governor
The expensive and divisive race between Democrat Mikie Sherrill and Republican Jack Ciattarelli to become New Jersey’s new governor is finally coming to a close on Tuesday. Sherrill, a congresswoman and former Naval helicopter pilot, is facing Ciattarelli, a former state lawmaker and business owner, in a nationally watched, relatively tight race to take over for term-limited Democratic Gov. Phil Murphy. Here’s where the candidates stand and differ on key topics. (nj.com)
New Jersey Chamber of Commerce Board adds seven new members
The N.J. Chamber of Commerce Board of Directors elected seven new board members. These accomplished leaders will contribute to the Chamber’s mission of fostering a thriving business community in N.J. They are: Thomas Angelo, managing principal and CEO, HBK CPAs & Consultants; John Gallucci Jr., president & CEO, JAG Physical Therapy; Sandra Gonzalez, general counsel, Goya Foods, Inc.; Shannon Lazare, N.J. regional president, M&T Bank; Kim Vierheilig, president, national buildings group, STV, Inc.; Ralph Zucker, president & CEO, Inspired by Somerset Development; Michael Zwick, senior vice president for research, Rutgers University. (ROI-NJ)
These resources are available to NJ residents who may lose SNAP benefits in November
As the federal shutdown continues, new benefits for the Supplemental Nutrition Assistance Program were expected to not be issued to some grocery shoppers beginning Nov. 1. However, shoppers can still roll over unused benefits from October to pay for groceries in November. The New Jersey Food Council is providing timely information about food assistance programs, food security partners and SNAP program updates. (New Jersey Food Council)
EDA to open applications Nov. 13 for Cannabis grant program
The N.J. Economic Development Authority will open applications for its $5 million
Cannabis Business Development Grant Program on Nov. 13, it announced. The program, designed to provide financial support to early-stage recreational cannabis entrepreneurs, will offer $75,000 reimbursements to eligible cannabis manufacturers, cultivators, retailers, and testing laboratories in New Jersey. The goal is to help alleviate the cost of state and local compliance, as well as operating expenses. (BINJE)
This Thursday, Nov. 6: Trailblazer Impact Honors Reception
Join us! African American Chamber of NJ is partnering with NJ Chamber of Commerce to recognize 8 firms for their commitment to diversity
The African American Chamber of Commerce of New Jersey and the N.J. Chamber of Commerce will recognize eight New Jersey organizations next week for their leadership, vision, and measurable commitment to advancing diversity, equity, and inclusion in their workplaces and communities. The third annual Trailblazer Impact Honors Reception will take place Nov. 6 from 5 p.m. to 8:30 p.m. at Pines Manor in Edison. The event includes a cocktail networking reception, a panel discussion, and an awards presentation. See our honorees and more information. (N.J. Chamber of Commerce and African American Chamber of Commerce of N.J)
NJ Chamber President Tom Bracken on the gubernatorial election: 'The stakes couldn't be higher. So get informed, and vote.'
The N.J. Chamber does not endorse candidates, but we encourage our members – and everyone in N.J. – to be informed voters. Before you head to the polls, take the time to review where the candidates – Mikie Sherrill and Jack Ciattarelli – stand on the issues that matter most to our state’s competitiveness: job creation, tax policy, workforce development, infrastructure and regulatory reform. We also invite you to read the N.J. Chamber’s 2025 Priorities for Growth and Stability – a policy roadmap we shared with the candidates. This report outlines practical steps to build a stronger, more competitive, and more inclusive economy. See Tom's guest article. (BINJE)
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