Overview

• Johnson & Johnson's consumer health business Kenvue had an initial public offering that raised $3.8 billion.
• Kenvue was valued at $48 billion, making it the largest U.S. IPO since late 2021.
• J&J sold 172.8 million shares of Kenvue but will retain a 91% stake in the company.
• Kenvue owns well-known brands like Tylenol, Neutrogena, and Band-Aid and brought in nearly $15 billion in revenue in 2022.
• Kenvue CEO Thibaut Mongon said the company will focus on brand and product innovation to drive future growth.