Procter & Gamble (P&G) is set to acquire supplements brand Thorne for $3.8 billion, according to statements by P&G CEO Shailesh Jejurikar to CNBC. Jejurikar says the deal is intended to expand P&G’s health business. The Economic Times reports that P&G will announce the acquisition on Tuesday, citing Jejurikar’s comments. Quartz adds that Thorne is expected to be added to P&G’s existing supplements portfolio, which includes brands such as Metamucil, Align Probiotic, and New Chapter.
Multiple reports describe the competitive context around Thorne. Reuters previously reported that UK consumer health company Haleon was bidding for Thorne, and the Financial Times estimated Thorne’s valuation at up to $4 billion. P&G and Thorne did not immediately respond to Reuters requests for additional details.
Quartz reports the deal is scheduled to close later this year. The Economic Times notes that P&G recently forecast slower annual sales growth, while its beauty and wellness division posted strong results, supported by consumer spending on self-care products.
