Procter & Gamble to acquire supplements brand Thorne, CEO tells CNBC

• The acquisition was announced by P&G CEO Shailesh Jejurikar on CNBC's 'Squawk on the Street' and is set to be formally announced on Tuesday
• The deal is part of P&G's strategy to grow its health and wellness business, which already includes brands like Vick's and Oral-B
• Jejurikar praised Thorne as 'a really well-run operation' that has been established for a long time

Summary

Key Transaction:

Procter & Gamble (P&G) is acquiring Thorne, a supplements brand, as announced by CEO Shailesh Jejurikar on CNBC's "Squawk on the Street." The deal was set to be officially announced on Tuesday.

Strategic Rationale:

The acquisition represents P&G's strategic move to expand its health and wellness division. The consumer goods giant already owns established health brands including Vicks and Oral-B, and views Thorne as a complementary addition to this portfolio.

Management Commentary:

CEO Jejurikar expressed strong confidence in the acquisition, stating "We are really happy with the asset itself. It's a really well-run operation, and it's been around for a long time." This suggests P&G values Thorne's operational track record and established market presence.

Target Company:

Thorne is a supplement brand known for products including Magnesium Glycinate and Ginseng Plus supplements, operating in the health and wellness sector.

Market Implications:

This transaction signals P&G's continued interest in diversifying its health and wellness offerings and capitalizing on the growing supplements market. The acquisition could strengthen P&G's position in the consumer health sector, which has seen increased demand post-pandemic. The deal reflects broader consolidation trends in the supplements industry as major consumer goods companies seek growth opportunities in health-focused categories.

Note: Specific financial terms, including deal value and completion timeline, were not disclosed in this breaking news announcement.