Procter & Gamble has agreed to acquire nutritional supplements manufacturer Thorne for $3.8 billion, CEO Shailesh Jejurikar told CNBC on Tuesday. Jejurikar said the purchase price reflects the growth profile of Thorne and is "kind of in line with the industry benchmarks we’ve seen." He added that the company planned to announce the deal later in the day but did not offer further specifics.
P&G and Thorne did not immediately respond to requests for additional comment seeking further details on the transaction.
The proposed takeover marks a notable strategic move by P&G into the broader health and wellness category, aligning the consumer goods conglomerate with consumer trends toward healthier lifestyles. Company commentary tied the push to a rising focus on preventive care and growing consumer attention to self-care options - trends that have been reinforced by the popularity of weight-loss drugs, according to the statements included in the announcement.
P&G already owns supplements-related brands such as Metamucil and Align Probiotic, and the addition of Thorne would expand that portfolio.
Thorne previously became privately held when L Catterton, a private equity firm backed by LVMH, bought the company for $680 million in 2023. In June, Thorne was reportedly the target of a bid from consumer health company Haleon, a matter referenced by sources in prior reports; Jejurikar declined to say whether P&G prevailed after a contested bidding process. Media coverage in June indicated Thorne had been valued at up to $4 billion.
The announcement comes shortly after P&G forecast slower annual sales growth, even as its beauty and wellness division delivered robust results supported by consumers' willingness to spend on discretionary self-care items. Market reaction to the acquisition news was modestly positive: P&G shares were up about 1% in late morning trade on Tuesday.
This transaction illustrates P&G's effort to deepen its participation in health-oriented consumer goods without providing additional details on integration plans, financing, or timing at the time of the CEO's comments.