Stocks
P&G Dives Deep into Health & Wellness with $3.8 Billion Thorne Acquisition
Procter & Gamble (P&G) has made a major push into the health and wellness market by acquiring supplements maker Thorne for $3.8 billion in cash.
The takeover from L Catterton, a private equity firm backed by Louis Vuitton Moët Hennessy (LVMH), marks P&G's deepening efforts to capitalize on growing demand for self-care products.
P&G shares rose about 1% in afternoon trading following the news, as the company continues to navigate a crowded vitamins, minerals and supplements (VMS) sector.