Kimberly-Clark on Thursday struck a deal with Brazilian pulp maker Suzano to sell a majority stake in its international tissue business, valuing the business at about $3.4 billion, the Kleenex tissue maker said.

Kimberly-Clark on Thursday announced a partnership with Brazilian pulp and paper producer Suzano to split ownership of Kimberly-Clark's international tissue and paper products business.

The combined company will help alleviate volatile input costs sparked by recent tariffs, the Kleenex tissue maker said.