P&G (PG) to acquire supplement brand Thorne for $3.8 billion
A $3.8 billion deal puts Thorne, the science-focused supplement brand, inside Procter & Gamble's (PG) health care portfolio. P&G CEO Shailesh Jejurikar disclosed the transaction Tuesday on CNBC's "Squawk on the Street,"…
Key takeaways
- Procter & Gamble agreed to acquire the science-focused supplement brand Thorne for $3.8 billion, adding it to P&G's health care portfolio.
- P&G CEO Shailesh Jejurikar disclosed the deal Tuesday on CNBC's "Squawk on the Street," with closing expected later this year pending regulatory clearances.
- Thorne posted annual revenue above $500 million in 2025, and L Catterton's Flagship Fund—which took Thorne private in a $680 million buyout in 2023—stands to clear more than $3 billion on the sale.
- Consumers younger than 40 make up the largest share of Thorne's sales, and the brand has built gains in its direct-to-consumer channel.
- Perella Weinberg served as lead financial advisor to Thorne, and PG shares were up about 1% in Tuesday's session.
A $3.8 billion deal puts Thorne, the science-focused supplement brand, inside Procter & Gamble's (PG) health care portfolio. P&G CEO Shailesh Jejurikar disclosed the transaction Tuesday on CNBC's "Squawk on the Street," with closing expected later this year pending regulatory clearances and customary conditions. PG shares were up about 1% in Tuesday's session.
Behind the $3.8 billion
Thorne posted annual revenue above $500 million in 2025, per CNBC. L Catterton's Flagship Fund, which took Thorne private in a $680 million buyout in 2023, stands to clear more than $3 billion on the transaction at Tuesday's exit price, per Reuters. Thorne had reached a $525 million valuation when it went public in late 2021. The spread between that figure and the current print tells most of the story on how private capital has repriced the supplement category.
What Thorne adds to PG's health shelf
Thorne slots into a P&G health and wellness division that already carries Metamucil, Align Probiotic, New Chapter, Oral-B, and Vicks. P&G Health Care CEO Paul Gama said in a statement that consumer interest in self-care, prevention, and personalized health continues to expand, and that Thorne's premium wellness positioning complements what P&G already owns. Consumers younger than 40 account for the largest share of Thorne's sales, and the brand has built gains in its direct-to-consumer channel, a distribution mix that skews differently than P&G's traditional retail footprint.
The sector is getting crowded. Unilever struck a deal earlier this year to acquire U.S. gummy supplement maker Grüns. Nestlé has opened a strategic review on its slower-performing supplement lines, per Reuters. Consumer health company Haleon was also said to have pursued Thorne, according to unnamed sources cited in June.
What to watch next
Regulatory approval and customary closing conditions stand between Tuesday's announcement and a completed transaction. Perella Weinberg served as lead financial advisor to Thorne. When Jejurikar was asked Tuesday whether P&G had prevailed in a competitive process, he would not confirm it. The definitive agreement closing remains the tape's next hard event. Thorne CEO Colin Watts said in a statement that P&G is the right partner to expand the brand's reach while maintaining the standards it has held since its founding in 1984.
Filed via finance.yahoo.com