P&G Buys Thorne for $3.8 Billion as Wellness Push Intensifies

Procter & Gamble (P&G) is expanding its presence in the health and wellness market by acquiring supplements maker Thorne for $3.8 billion. The deal, which involves a cash payment from L Catterton, marks a significant push into the sector for P&G.

The takeover aligns with growing demand for self-care products and preventive care, driven by consumers' increasing focus on healthier lifestyles. As a result, top multinational consumer goods giants are jostling for space in the vitamins, minerals, and supplements (VMS) sector.

P&G's acquisition of Thorne adds to its existing portfolio of supplements brands, which includes New Chapter, Metamucil, and Align Probiotic. The company has forecast slower annual sales growth, despite strong results from its beauty and wellness division, driven by consumers' willingness to spend on discretionary self-care products.

Thorne, founded in 1984, went public in 2021 and was forecasting annual sales of $290 million in 2023 before the L Catterton deal took the company private. CNBC reported in April that Thorne was set to reach $650 million in sales this year.