Kimberly-Clark announced Monday morning that it agreed to buy Tylenol maker Kenvue for $48.7 billion, making the newly combined company one of the largest in the consumer health space.

Executives said the acquisition created a new “global health and wellness leader” able to generate up to $32 billion in annual revenue. The manufacturer of Tylenol has now joined the owner of brands such as Kleenex tissues and Huggies diapers.