Procter & Gamble has agreed to acquire supplements maker Thorne for $3.8bn, a move that significantly expands P&G's health business. This deal represents a substantial return for LVMH-backed private equity group L Catterton, which acquired Thorne less than three years ago for $680mn.

The acquisition underscores P&G's strategy to bolster its health and wellness offerings, a sector that has seen considerable growth due to increased consumer focus on self-care and well-being post-pandemic. Thorne, on track for $650mn in revenues this year, sells a variety of supplements and has built its brand through partnerships with athletes and sports associations.

P&G's chief executive of healthcare, Paul Gama, stated that Thorne "strengthens our position in premium wellness." This acquisition follows P&G's recent purchase of digestive health brand Wonderbelly and its $4.2bn deal for Merck KGa A’s consumer health unit, signaling a renewed focus on wellness brands to attract younger consumers.