Reckitt Benckiser, the consumer goods giant, has agreed to buy US baby formula maker Mead Johnson. Here are some of the eye-wateringly large numbers the deal has thrown up.

Reckitt’s forking out $16.6bn for Mead, marking its biggest ever deal.

Reckitt, the UK-based maker of Nurofen painkillers and Durex condoms, has a market value of about $60bn.

Mead Johnson, which makes infant formula under the Enfa brand had sales of $3.7bn in 2016, down eight percent year-on-year.

The deal, including debt, is valued at $17.9bn.

The purchase will provide “a significant step forward” in Reckitt’s efforts to become a “leader in consumer health,” said the company’s chief executive Rakesh Kapoor.

Consumer health is an increasingly lucrative market, particularly after China’s decision in 2015 to scrap its one-child policy, allowing consumer goods companies to take advantage of the subsequent baby boom.

In 2016, the consumer goods industry saw an average of 181,000 new jobs in the sector per month.

The deal will turn China into Reckitt’s second-biggest market, MarketWatch reported.

James Cornelius, chairman of Mead Johnson, said Reckitt’s offer provided “tremendous value” to shareholders, who will receive $90 per share.

That’s 29 percent more than its $69.50 share price on 1 February, before bid speculation began.

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