International law firm Freshfields advised Suzano, the world’s largest pulp producer, on the creation of US$3.4 bn international tissue joint venture with Kimberly-Clark. The transaction involves the carveout of Kimberly-Clark’s family care and professional business in over 70 countries into the joint venture with Suzano, and will focus on the manufacture, marketing and distribution of household name consumer and professional tissue products, such as toilet paper, napkins, paper towels and facial tissues, marketed under the Kleenex^®, Scott^® and WypAll^® brands.

Under the terms of the agreement, Suzano will acquire a 51 percent interest in the new entity, with Kimberly-Clark holding a 49 percent interest. More information about the deal can be found here.

The Freshfields team involved over 50 lawyers across multiple Freshfields offices and was led by U.S. M&A partner Paul Humphreys and counsel Enrique Dancausa.

The M&A team includes counsel Richard Ho, senior associate Arash Ardalan and associates Connor Smith, Danyela van der Sande, Jordan Camilleri, Lucy Garrett, Bahawal Ali and Massimilano Bonifacino. Intellectual property advice was provided by counsel Marissa Yu and associate Rhea Khakhria. Tax advice was provided by partner Emily Szasz and counsel Jay Cosel. Antitrust advice was provided by partner Rafique Bachour and associate Jan Jeram. Employee, compensation and benefits advice was provided by partners Lori Goodman and Andrew Murphy, counsel Jordan Salzman and senior associate Chantelle Nicholas. Real estate advice was provided by partner Alex Watt, counsel Jeremiah Nelson and associate Mohammad Bagash. Environmental advice was provided by partner Doug Bryden and associate Charlotte Aspin.