P&G Scoops Up Thorne for $3.8 Billion in Wellness Market Play

Procter & Gamble (PG) stock rose on August 4 after the company announced it would acquire Thorne, a premium wellness and dietary supplement maker, for $3.8 billion in cash.

The deal is expected to give Procter & Gamble an immediate foothold in the rapidly expanding health and self-care market.

Thorne generated over $500 million in revenue last year and is projected to reach $650 million by 2026, offering a boost to top-line growth for Procter & Gamble.

The acquisition also provides access to a highly coveted demographic, health-conscious consumers under the age of 40, which Procter & Gamble has sought to engage more deeply with its core household brands.