Cincinnati-based Procter & Gamble has entered a deal to acquire supplement company, Thorne, for $3.8 billion in cash.
Thorne is owned by global consumer-focused investment firm, L Catterton, which describes the supplement maker as "a leader in science-backed health and wellness solutions."
A closing date is expected in the fourth quarter of this year. P&G shares rose 1% with Tuesday's news.
P&G says Thorne is known for "high-quality supplements and personalized health solutions backed by health care practitioners." The company says the move aims to expand its line of healthcare products, which it sees as a growing market.
"Thorne has built a highly trusted brand at the forefront of personalized health," said Paul Gama, P&G CEO, Health Care. "Together, we see an opportunity to bring Thorne's science-backed wellness solutions to more consumers while continuing to build on the quality, credibility and innovation that have made the brand successful."
Thorne was founded in 1984 and makes vitamins, supplements, and other wellness products. It was purchased by L Catterton for $680 million in 2023.
“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,” said Thorne CEO Colin Watts.
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