P&G to acquire supplement brand Thorne for $3.8 billion

P&G to acquire supplement brand Thorne for $3.8 billion

Tue, August 4, 2026 at 8:31 PM GMT+3 2 min read

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P&G CEO Shailesh Jejurikar announced Tuesday on CNBC's "Squawk on the Street" that the consumer goods giant will pay $3.8 billion to acquire supplement brand Thorne. P&G will purchase Thorne from L Catterton's Flagship Fund, and the transaction is expected to close later this year, subject to regulatory approvals and customary closing conditions, the company announced.

The deal expands P&G's health and wellness division, which already includes the supplements brands Metamucil, Align Probiotic, and New Chapter, as well as Oral-B and Vicks. Thorne's annual revenue surpassed $500 million in 2025, according to CNBC.

"This is an important step for P&G's Personal Health Care business," P&G Health Care CEO Paul Gama said in a statement. "Consumer interest in self-care, prevention, wellness, and personalized health continues to grow, and Thorne strengthens our position in premium wellness with a trusted, science-backed brand that complements our existing portfolio."

Thorne CEO Colin Watts said the company considered what would best allow it to fulfill its mission going forward. "We believe P&G is the right partner to help us expand our impact while staying true to the values and standards that have always defined Thorne," he said in a statement.

Thorne traces its origins to 1984 and reached a $525 million valuation when it listed on public markets in late 2021. In 2023, L Catterton brought Thorne back off public markets through a $680 million buyout. The acquisition price of $3.8 billion would represent a return of more than $3 billion for L Catterton, according to Reuters.

Consumers younger than 40 account for the largest share of Thorne's sales, and the brand has recorded notable gains in its direct-to-consumer channel.

P&G is not the only major consumer goods company moving into the vitamins, minerals, and supplements sector. Unilever, one of P&G's chief rivals, struck a deal earlier this year to acquire U.S. gummy supplement maker Grüns, and Nestlé has launched a strategic review covering its slower-performing supplement lines, according to Reuters.

Consumer health company Haleon had also pursued Thorne, unnamed sources said in June. When asked about it Tuesday, Jejurikar would not confirm whether P&G had prevailed in a competitive auction. Perella Weinberg served as the lead financial advisor to Thorne.

P&G stock was up about 1% in trading Tuesday.