Americans spend more on wellness products even as budgets tighten
Procter & Gamble said Tuesday it has agreed to acquire Thorne, a supplements and wellness company, for $3.8 billion. The deal adds a fast-growing brand to P&G’s existing Metamucil and Align probiotics lines and deepens the consumer giant’s push into beauty and health.
Thorne, which has been owned by private-equity firm L Catterton since 2023, sells creatine, prenatal vitamins, hormone supplements and other products. The takeover is expected to strengthen P&G’s reach in a category where demographics are driving growth, according to Chief Executive Shailesh Jejurikar.
“For growth, definitely one of the areas we’re looking at is a much bigger play in growing our beauty and health business,” Jejurikar said Tuesday on CNBC.
The transaction is the latest in a series of moves by large consumer-goods companies aiming to capture the rising demand for vitamins, supplements and other wellness products. Americans have been increasingly willing to spend on such items even as household budgets are pressured by higher costs, industry executives say.
Unilever bought vitamin maker Grüns earlier this year, adding it to a portfolio that already includes Dove soap and K18 hair care. P&G’s acquisition of Thorne, which does not yet include any financial performance details beyond the $3.8 billion price tag, is expected to close later this year subject to regulatory approvals.