P&G Snaps Up Supplements Maker Thorne for $3.8B Amid Health and Wellness Push

Procter & Gamble (P&G) is making a major push into the health and wellness market by acquiring supplements maker Thorne for $3.8 billion, according to CEO Shailesh Jejurikar.

Jejurikar told CNBC that the takeover aligns with growing demand for self-care products and represents a strong return on investment for L Catterton, which took Thorne private in 2023 for $680 million.

Thorne was forecasting annual sales of $290 million in 2023 before the acquisition, but is now expected to reach $650 million this year, CNBC reported.

P&G's entry into the supplements market comes as major multinationals compete for space in the vitamins, minerals, and supplements (VMS) sector. The company's beauty and wellness division has posted strong results, driven by consumers' willingness to spend on discretionary self-care products.