LVMH-backed global investment firm L Catterton has agreed to sell its health and wellness business, Thorne, to Procter & Gamble (P&G).
Founded in 1984, Thorne has provided science-backed health solutions, serving consumers, athletes and healthcare professionals with a range of nutritional supplements and technology-driven tools. In late 2023, L Catterton acquired the company, taking it private.
The acquisition would position the brand to continue advancing its healthcare mission, while reflecting Thorne and P&G’s shared commitment to building trusted brands through quality, innovation and consumer trust, the parties said in a statement.
“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,” said Colin Watts, CEO of Thorne.
“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.”
Paul Gama, CEO of P&G Health Care, described the deal as an important step for the division. The consumer goods giant last month reported a ‘foundation’ fiscal year, generating US$87 billion in revenue despite stagnant sales and profits.
“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,” said Gama.
The transaction, in which P&G will acquire Thorne from L Catterton’s Flagship Fund, is expected to close later this year. The deal is still subject to customary closing conditions and regulatory approvals.
