P&G Lands Thorne Supplements in $4 Billion Deal

Procter & Gamble (P&G) has announced its acquisition of Thorne Supplements, a leading manufacturer of supplements, in a major deal that signals the company's expansion into the growing health and wellness market.

The acquisition price was described by P&G CEO Shailesh Jejurikar as 'a good price for the growth rates they have,' which he noted is 'kind of in line with the industry benchmarks we've seen.'

Thorne Supplements, valued at up to $4 billion according to a Financial Times report, was previously owned by L Catterton and had attracted bids from other companies, including UK-based consumer health company Haleon.

The deal comes as P&G recently forecast slower annual sales growth despite strong performance in its beauty and wellness division.