PG Acquires Thorne for $3.8 Billion

Procter & Gamble (PG) is acquiring Thorne in an $3.8 billion deal, according to CEO Shailesh Jejurikar.

Jeurikar told CNBC that P&G is 'really happy with the asset itself,' praising its strong operation and long history.

Thorne generated $500 million in sales last year and has a customer base primarily comprised of shoppers under 40 years old.

P&G's Q4 revenue came in at $21.20 billion, below the Fiscal AI estimate of $21.38 billion, while earnings per share were $1.43, exceeding the consensus estimate by only $0.02.