P&G seals Thorne deal to expand wellness business

Tide maker Procter & ​Gamble will announce ​the acquisition of supplements maker ​Thorne on Tuesday, P&G CEO Shailesh Jejurikar told CNBC in an interview.

"What ‌I can ⁠say ⁠is the price is a ​good price for the growth rates they have. ​It's kind of in line with the industry benchmarks we've ​seen," Jejurikar told ⁠CNBC.

P&G and ‌Thorne did not ​immediately ​respond to Reuters requests for ⁠comment seeking additional details on the ​deal.


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UK-based consumer health company ​Haleon was bidding for Thorne, Reuters reported in June, citing sources.

The supplements maker was valued at up to $4 ‌billion, according to a Financial Times report in June.

Last week, ​P&G ​forecast slower ⁠annual sales growth, even as its beauty and wellness division posted strong ​results, helped by consumers' willingness to spend on discretionary self-care products.