CINCINNATI (dpa-AFX) - L Catterton, a consumer-focused investment firm, announced late Tuesday that it has signed a definitive agreement to sell science-backed health and wellness firm Thorne to consumer goods major Procter & Gamble Co. (PG) for $3.8 billion in cash.
The transaction is expected to close in the fourth quarter of 2026.
L Catterton acquired Thorne, which operates in the vitamins, minerals, and supplements or VMS category, in October 2023 to meet growing consumer demand, after identifying an enduring shift in consumer behavior toward proactive, clinical-based products.
Rajan Shah, Partner at L Catterton, stated, '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.'
In the deal, Perella Weinberg Partners and Canaccord Genuity LLC served as financial advisors to Thorne, with Kirkland & Ellis as legal advisor. Jones Day acted as legal advisor to Procter & Gamble.
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