P&G Drops $3.8 Billion on Supplements Maker Thorne

Procter & Gamble (P&G) is expanding its health and beauty businesses with the acquisition of supplements maker Thorne for $3.8 billion, according to CEO Shailesh Jejurikar.

The deal is part of P&G's strategy to strengthen its health care division, which generated $12.5 billion in sales last fiscal year.

Thorne was forecasted to reach $290 million in annual sales in 2023 before being taken private by L Catterton in a $680 million deal in 2023.

Jejurikar said the price is 'a good price for the growth rates they have', but declined to discuss whether P&G made the deal amid a bidding war for the company.