Kimberly-Clark, the supplier of paper-based consumer staples, will receive a cash infusion as it restructures to cut costs and expand its US manufacturing capacity. For Suzano, the deal gives it an international platform to expand further into products that use its pulp output.

Kleenex tissue maker Kimberly-Clark (KMB) announced on Thursday that it will sell a majority stake in its international tissue business to Brazil’s Suzano (SUZ) in a deal valued at $3.4 billion. Kimberly-Clark will form a strategic partnership with Suzano to create an international tissue and professional products company.

Clark, a global leader in the consumer staples industry, today announced the creation of a US$3.4 billion joint venture focused on the manufacture, marketing and distribution of consumer and professional tissue products,