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Procter & Gamble will acquire supplements brand Thorne, CEO tells CNBC
The supplements deal comes as P&G seeks growth in beauty and wellness while Haleon had also been bidding for Thorne, Reuters reported.
- On Tuesday, Procter & Gamble announced its acquisition of supplements maker Thorne for $3.8 billion, with CEO Shailesh Jejurikar confirming the deal to CNBC.
- UK-Based consumer health firm Haleon reportedly bid for Thorne in June, when a Financial Times report valued the supplements maker at up to $4 billion.
- CEO Shailesh Jejurikar told CNBC the price is "a good price for the growth rates they have," stating the acquisition aligns with industry benchmarks.
- Recently, Procter & Gamble forecast slower annual sales growth, though its beauty and wellness division posted strong results driven by consumer discretionary self-care spending.
- Neither Procter & Gamble nor Thorne immediately responded to Reuters requests for additional details regarding the acquisition deal.
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Procter & Gamble (P&G) bought Thorne's supplement manufacturer, L Catterton, for $3.8 billion in cash, informed the companies on Tuesday (4), as the consumer goods giant deepens its incursion into the health and well-being sector to capitalize on the growing demand for self-care products. The acquisition marks a major investment of P&G in the health and well-being market, aligning the consumer goods giant with a growing focus on healthier lifest…
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Total News Sources22
Leaning Left1Leaning Right3Center11Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
73% Center
C 73%
R 20%
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