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P&G's $3.8B Thorne Deal Caps Wellness M&A Wave
Procter & Gamble's $3.8 billion acquisition of supplement brand Thorne underscores a broader push by consumer goods giants to snap up science-backed wellness labels as shopper priorities shift toward longevity and functional health.
Last week, Procter & Gamble announced plans to acquire Thorne, a supplement brand, for $3.8 billion. The deal is the latest in a series of high-profile wellness acquisitions in 2026, signaling that large CPG conglomerates are increasingly focusing on health-oriented brands.
Earlier this year, Unilever acquired Grüns, a three-year-old gummy multivitamin startup, for an undisclosed sum. These moves come as consumer demand grows for products tied to longevity, functional health, and the nutritional needs of the expanding GLP-1 user base.
Thorne, founded in 1984, has a history of ownership changes. The company went public in 2021 and was later taken private by L Catterton in a deal valued at $680 million. Thorne reported annual revenue surpassing $500 million in 2025.
Mike Ross, PwC's U.S. consumer markets deals leader, noted that CPG companies are becoming more intentional about what belongs in their portfolios—and what does not—as behavior shifts toward better-for-you products. The Thorne acquisition reflects that strategic recalibration.