Kimberly-Clark is buying Tylenol maker Kenvue in an approximately $48.7 billion cash-and-stock deal, creating a massive consumer health goods company.

The combined company will have a huge stable of household brands under one roof, putting Kenvue’s Listerine mouthwash and Band-Aid side-by-side with Kimberly-Clark’s Cottonelle toilet paper, Huggies and Kleenex tissues.

It will also generate about $32 billion in annual revenue. The deal is expected to close in the second half of next year it it’s approved by shareholders.

Kenvue has spent a relatively brief period as an independent company, having been spun off by Johnson & Johnson two years ago.

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