P&G is acquiring supplements maker Thorne, CEO Jejurikar tells CNBC
PG•P&G's latest sales outlook
Last week, P&G forecast slower annual sales growth, even as its beauty and wellness division posted strong results, helped by consumers' willingness to spend on discretionary self-care products.
Deal details not immediately disclosed
P&G and Thorne did not immediately respond to Reuters requests for comment seeking additional details on the deal.
UK-based consumer health company Haleon was bidding for Thorne, Reuters reported in June, citing sources.
The supplements maker was valued at up to $4 billion, according to a Financial Times report in June.
P&G says it will announce Thorne acquisition on Tuesday
Tide maker Procter & Gamble will announce the acquisition of supplements maker Thorne on Tuesday, P&G CEO Shailesh Jejurikar told CNBC in an interview.
"What I can say is the price is a good price for the growth rates they have. It's kind of in line with the industry benchmarks we've seen," Jejurikar told CNBC.
