Aug 4 (Reuters) - Procter & Gamble will acquire supplements maker Thorne for $3.8 billion, CEO Shailesh Jejurikar told CNBC on Tuesday, as consumer goods companies expand their health and wellness offerings to tap sustained demand for self-care products.
"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 in an interview, adding that the company would announce the deal later in the day without
giving further details.
P&G and Thorne did not immediately respond to Reuters requests for comment seeking additional details on the acquisition.
The takeover marks a major push by P&G into the health and wellness market, aligning the consumer goods giant with a growing focus on healthier lifestyles fueled by rising interest in preventive care and the popularity of weight-loss drugs.
P&G's supplements brands portfolio currently includes Metamucil and Align Probiotic.
LVMH-backed private equity firm 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 supplements maker was valued at up to $4 billion, according to a Financial Times report in June.
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.
P&G shares were up about 1% in late morning trade on Tuesday.
(Reporting by Juveria Tabassum in Bengaluru and Alexander Marrow in London; Editing by Anil D'Silva)
