P&G Acquires Thorne for $3.8 Billion in Wellness-Beauty Push

Consumer products giant Procter & Gamble (P&G) is expanding its presence in the wellness-and-beauty industry by acquiring Summerville-based supplements maker Thorne for $3.8 billion. The deal, which is expected to close by the end of the year, represents a significant push into the growing and increasingly competitive personal-wellness sector.

P&G's chief executive, Shailesh Jejurikar, said that the price paid for Thorne was 'in line with industry benchmarks' and that he was 'very happy with the asset itself' because it is a 'well-run operation'. The acquisition marks P&G's latest move into the beauty and health space, following its purchase of Native in 2017.

Thorne makes around 250 products, including supplements, which are expected to generate $650 million in sales this year. Jejurikar pointed out that after acquiring Native for $40 million, P&G was able to grow the brand's sales to nearly $1 billion. He attributed this success to P&G's ability to scale businesses.