P&G Strikes $3.8 Billion Deal for Supplement Maker Thorne

Procter & Gamble Co. has agreed to acquire Thorne, a supplement maker, for $3.8 billion in a deal set to be announced later Tuesday. The news was revealed by Chief Executive Officer Shailesh Jejurikar during an appearance on CNBC.

The acquisition marks one of the largest transactions in P&G's history and is expected to expand the company's presence in the health and wellness market. Thorne has built a reputation for producing high-quality supplements, and its products are widely available in health food stores and online.

While terms of the deal have not been disclosed, Jejurikar confirmed that P&G will pay $3.8 billion for Thorne's assets. The acquisition is subject to regulatory approval before it can be finalized.