P&G to Acquire Supplement Brand Thorne for $3.8 Billion
Procter & Gamble (P&G), a leading consumer goods company, has confirmed its plan to acquire the supplement brand Thorne for $3.8 billion. This information was disclosed by P&G CEO Shailesh Jejurikar during an appearance on CNBC's "Squawk on the Street" on Tuesday. The acquisition will be made from L Catterton's Flagship Fund and is anticipated to finalize later this year, pending regulatory approvals and standard closing conditions. This move signifies a major expansion for P&G into the health and wellness arena, capitalizing on Thorne's strong foothold in the dietary supplements industry. The announcement emphasized the financial aspects and strategic significance, reflecting the increasing consumer interest in health-focused products.
Key facts
- P&G will acquire Thorne for $3.8 billion.
- The announcement was made by P&G CEO Shailesh Jejurikar on CNBC's 'Squawk on the Street'.
- Thorne is being purchased from L Catterton's Flagship Fund.
- The transaction is expected to close later this year.
- The deal is subject to regulatory approvals and customary closing conditions.
- This acquisition expands P&G's presence in the health and wellness sector.
- Thorne is a supplement brand.
- The acquisition was announced on Tuesday.
Entities
Institutions
- Procter & Gamble
- Thorne
- L Catterton
- CNBC
Sources
- Quartz —