Procter & Gamble (P&G) has agreed to acquire health and wellness solutions maker Thorne from LVMH-backed investment firm L Catterton for USD 3.8 billion in cash.
The deal underscores the U.S. consumer goods giant’s growing focus on health and wellness, driven by consumers’ increasing interest in healthier lifestyles and preventive care.
Founded in 1984, Thorne supplies consumers, athletes, and healthcare professionals with a comprehensive range of nutritional supplements.
"For more than 40 years, Thorne has earned the trust of healthcare practitioners, consumers, and partners by putting science, quality, and the people we serve at the center of every decision," said Colin Watts, Chief Executive Officer of Thorne. "As we looked to the future, we kept coming back to one question: What will best position Thorne to continue fulfilling its mission? We believe P&G is the right partner to help us expand our impact while staying true to the values and standards that have always defined Thorne."
The transaction is expected to close later this year, subject to customary closing conditions and regulatory approvals.
"This is an important step for P&G’s Personal Health Care business," said Paul Gama, CEO P&G Health Care. "Consumer interest in self-care, prevention, wellness, and personalized health continues to grow, and Thorne strengthens our position in premium wellness with a trusted, science-backed brand that complements our existing portfolio."
P&G, whose supplements portfolio already includes New Chapter, Metamucil and Align Probiotic, last week forecast slower annual sales growth, despite strong performance in its beauty and wellness division.
