P&G Buys Supplements Maker Thorne for $3.8 Billion

Procter & Gamble (P&G) is expanding its presence in the health and wellness market by acquiring supplements maker Thorne for $3.8 billion. The consumer goods giant is paying cash for the company from LVMH-backed private equity firm L Catterton, as it deepens its push into this growing sector.

The takeover marks a significant move by P&G into the health and wellness market, which has seen increasing demand for self-care products. The VMS (vitamins, minerals, and supplements) sector is becoming increasingly crowded, with top multinational consumer goods giants competing for space.

P&G's shares were up about 1% in afternoon trading following the news. This deal comes after P&G rival Unilever announced a deal to buy U.S.-based nutritional supplements brand Gruns for an undisclosed amount in April.