Procter & Gamble to acquire supplements maker Thorne for $3.8 billion

Procter & Gamble is acquiring supplements maker Thorne for $3.8 billion from L Catterton, a private equity firm backed by LVMH. P&G CEO Shailesh Jejurikar confirmed the acquisition, stating the price is favorable for Thorne's growth rates and aligns with industry benchmarks. This move signifies a substantial expansion for P&G into the health and wellness sector, responding to increasing consumer interest in self-care and preventive health.

Reuters reported in June that UK-based consumer health company Haleon was also in contention to acquire Thorne, which was then valued at up to $4 billion, according to the Financial Times. Last week, P&G projected slower annual sales growth despite a strong performance in its beauty and wellness division, which benefited from consumer spending on discretionary self-care products.