L Catterton to sell supplements provider Thorne to P&G for $3.8bn

L Catterton has reached an agreement to divest Thorne, a dietary supplements provider based in Summerville, South Carolina. The buyer is The Procter & Gamble Company, with the transaction valued at $3.8 billion in cash. This sale follows a recent investment by L Catterton into Thorne, which occurred in October 2023. Thorne is led by CEO Colin Watts. This divestiture highlights a swift realization of value for the private equity firm. The deal is projected to finalize in the fourth quarter of 2026. Financial advisory services to Thorne were provided by Perella Weinberg Partners and Canaccord Genuity LLC, while Kirkland & Ellis acted as its legal advisor. Jones Day served as legal advisor to Procter & Gamble. This transaction, particularly the quick turnaround from investment to sale for L Catterton, suggests a strong market demand for health and wellness brands that align with consumer trends favoring proactive health solutions. The acquisition by a major consumer goods conglomerate like Procter & Gamble indicates a strategic move to expand its portfolio within the growing supplements sector. The substantial valuation further underscores the perceived potential and established market position of companies like Thorne within the health and wellness industry.