P&G Buys Thorne for $3.8 Billion in Bid to Revive Growth
The Procter & Gamble Company (PG) announced on August 4 that it has agreed to buy Thorne, a science-backed supplements brand, for $3.8 billion in cash.
While this deal is significant, the market reaction was surprisingly muted, with shares rising only 1.5% intraday and closing at $146.97, roughly the same price as before the announcement.
The acquisition of Thorne aims to address P&G's weakness in its healthcare unit, which saw a 3% decline in volume in the fourth quarter due to soft oral care sales in North America and Greater China.
Thorne generated over $500 million in revenue in 2025 and is targeting around $650 million in 2026, with most of its sales coming from shoppers under 40, a demographic P&G has struggled to reach through its legacy brands.