P&G buys supplements maker Thorne for $3.8 billion as wellness push intensifies

CEO Shailesh Jejurikar first announced the deal in an interview with CNBC earlier on Tuesday.

L Catterton took Thorne private in a $680 million deal in 2023. Thorne was the subject of a bid from consumer health company Haleon, sources told Reuters in June, but Jejurikar declined to say whether P&G had won an intense bidding war.

The deal would represent a strong return on investment of more than $3 billion for L Catterton.

L Catterton Partner Rajan Shah said the firm was confident P&G was best positioned to build on the growth acceleration it had overseen.

Thorne, founded in 1984, went public in 2021 and was forecasting annual sales of $290 million in 2023 before the L Catterton deal took the company private. CNBC reported in April that Thorne was set to reach in sales this year.