P&G to acquire supplement maker Thorne in $3.8 billion health push

Cincinnati: Procter & Gamble is taking another step into the fast-growing wellness market, agreeing to acquire dietary supplement maker Thorne for $3.8 billion.

The acquisition, announced on Tuesday, will strengthen Procter & Gamble’s health and wellness business, which already includes supplement brands such as Metamucil, Align Probiotic and New Chapter alongside healthcare brands including Oral-B and Vicks.

Speaking to CNBC, Procter & Gamble chief executive officer Shailesh Jejurikar said the company was impressed by Thorne’s business and long-term performance.

“We are really happy with the asset itself. It’s a really well-run operation, and it’s been around for a long time,” Jejurikar said.

Founded in 1984, Thorne went public in 2021 with a valuation of about $525 million before being taken private by L Catterton in 2023 in a deal worth $680 million. The company said its annual revenue exceeded $500 million in 2025.

Earlier this year, Thorne chief executive officer Colin Watts said the company had the potential to become a billion-dollar brand within the next few years.

The brand has built a strong following among younger consumers, with shoppers under the age of 40 accounting for the majority of its revenue. It has also benefited from rapid growth in direct-to-consumer sales.

The acquisition comes as demand for vitamins and nutritional supplements continues to rise, with consumers increasingly turning to wellness products aimed at improving sleep, energy, immunity and overall health.

The transaction also reflects a wider trend among consumer goods companies seeking to acquire fast-growing premium wellness brands. Earlier this year, Unilever acquired gummy supplement brand Grüns to strengthen its presence in the category.

Although Thorne will represent a relatively small part of Procter & Gamble’s vast portfolio, the acquisition aligns with the company’s strategy of expanding its premium offerings and appealing to younger consumers.

The move follows a softer-than-expected quarterly performance for P&G, where overall sales volumes remained flat and its healthcare division recorded the weakest volume growth among its business segments.

Investors reacted cautiously to the announcement, with Procter & Gamble shares trading modestly higher in early trading.

The deal underlines how supplements have shifted from a niche health category to a mainstream consumer business, with established companies increasingly willing to pay a premium to secure a place in the growing wellness market.