Consumer goods giant Procter & Gamble has signed a deal to acquire supplement maker Thorne for $3.8bn from LVMH-backed private equity group L Catterton.
The purchase will add a trusted health and wellness business to P&G's portfolio, which already includes brands such as Gillette, Oral-B and Seven Seas, aligning P&G with the growing consumer focus on healthier lifestyles and self-care.
Unilever was reportedly also interested in buying the supplement brand — having acquired supplement brands Grüns back in April — but was ultimately beaten out by P&G's offer.
L Catterton invested in Thorne in October 2023, taking it private in a $680m deal. The supplement company will reportedly reach sales of $650m this year.
Meeting the modern supplement consumer
The vitamins, minerals and supplements (VMS) sector has seen huge growth since the Covid-19 pandemic, with consumers prioritising daily wellness, longevity and immunity maintenance.
Younger demographics and digital marketing have accelerated demand for science-backed and enjoyable non-pill formats such as gummies.
Thorne's portfolio includes supplements such as magnesium, whey protein and omega-3, with the company becoming a highly trusted wellness brand thanks to its rigorous clinical testing and high-purity ingredients.
The brand emphasises pure, minimal-ingredient formulas, with supplements going through four rounds of testing and its South Carolina facility undergoing audits from third-party certification entities (such as NSF and Australia’s Therapeutic Goods Administration (TGA)).
It recently launched its new Clear Focus supplement, a no-caffeine focus product targeting consumers looking for caffeine alternatives.
The transaction is expected to close in the fourth quarter of 2026.
Marc Magliacano, a Managing Partner at L Catterton, said, "As consumers increasingly prioritise proactive, clinically-backed solutions that increase healthspan, we believed Thorne was uniquely positioned to lead the category."
Rajan Shah, a Partner at L Catterton, added: "From the outset, we shared a long-term vision with Colin and the Thorne team to build on the brand's strong foundation and the trust it had earned with practitioners and consumers alike, while accelerating its next phase of growth."
Colin Watts, CEO of Thorne, said: "L Catterton has been an outstanding partner over the past several years."
He added: "For more than 40 years, Thorne has earned the trust of healthcare practitioners, consumers and partners by putting science, quality and the people we serve at the centre of every decision."
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.
"This is an important step for P&G's Personal Health Care business," said Paul Gama, CEO of P&G Health Care.
Consumer interest in self-care, prevention, wellness and personalised health continues to grow and Thorne strengthens our position in premium wellness with a trusted, science-backed brand that complements our existing portfolio.
