Kimberly-Clark to acquire Tylenol maker Kenvue in a $48.7 billion deal, forming a major consumer health goods company in the U.S. Consolidation in the industry driven by inflation, changing consumer preferences, and fierce competition.

Major M&A deals in the consumer goods industry: Cadbury buys Adams for $4.2 billion, Kraft Foods acquires Danone’s biscuit business for $7.2 billion, Mars acquires Wrigley for $23 billion, Nestle buys Kraft’s frozen pizza business for $3.7 billion, and more.

From Nestle selling its U.S. ice cream business to Mars buying Pringles owner Kellanova, the industry sees significant acquisitions and mergers. General Mills buys pet food brands, PepsiCo acquires Siete Foods, and Keurig Dr Pepper merges with JDE Peet’s in an $18.4 billion deal.

Read more at Yahoo Finance: Factbox-Big-ticket consumer deals over past few decades