Thorne acquired by Procter & Gamble
Procter & Gamble agreed to acquire Thorne, a US supplements brand, on Aug 4, 2026.
Transaction summary
- Target
- Thorne
- Acquirer
- Procter & Gamble
- Seller
- L Catterton Investor profile →
- Announced
- 2026-08-04
- Geography
- United States
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- -
- First added
- 2026-08-08
- Latest update
- 2026-10-18
Parties at the deal date
Seller
Current investor profile →L Catterton is one of the world's leading consumer products focused private equity firms. L Catterton has deep expertise in consumer products, having made more than 200 investments since 1989, and being co-owned by LVMH (which owns brands including Louis Vuitton). We are able to provide our portfolio companies with access to substantial in-house and external resources to drive operational improvements and further growth. L Catterton has five current consumer brand investing platforms: a Flagship Buyout fund focused on $50-400m investments in North American and European companies, a North American Growth fund focused on $10-50m investments, a Latin American Fund focused on $40-75m investments, a Western Europe fund focused on EUR 25-75m investments, and an Asia fund focused on $50-150m investments. L Catterton also has a real estate fund that invests as a co-developer in large scale, mixed-use projects anchored by luxury retail. L Catterton was formed in 2016 through the merger of L Capital (the PE arm of LVMH) and Catterton, a US Private Equity firm.
Snapshot preserved for this transaction; current company profiles may differ.
Value and multiples
100% enterprise value
USD 3.8B
100% enterprise value | USD
Basis: Public source
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
7.6x
Period: FY2025
Basis: Derived from source data
EV / EBITDA
-
EBITDA basis not stated
Basis: Estimated
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Consideration: USD 3.8B
P&G FY2026 Form 10-K, subsequent event: USD 3.8bn consideration. https://www.sec.gov/Archives/edgar/data/80424/000008042426000103/pg-20260630.htm
Basis
- P&G announced a US$3.8bn purchase price. FY2025 revenue exceeded US$500m; using US$500m gives estimated EV/revenue of 7.6x. TIKR’s US$650m forecast for 2026 gives a separate forward multiple of 5.85x.
Source summary
Procter & Gamble FY2026 Form 10-K — Thorne subsequent event
ConfirmedP&G discloses its 4 August 2026 agreement to acquire Thorne for USD 3.8bn. Completion remains subject to approvals and closing conditions.
Open sourceProcter & Gamble will acquire supplements brand Thorne for $3.8 billion, CEO tells CNBC
EstimatedCNBC reports P&G will acquire Thorne for $3.8B; Thorne's 2025 revenue surpassed $500M.
Open sourceTIKR — Thorne revenue and forecast (7 August 2026)
EstimatedTIKR reports FY2025 revenue above USD 500m and a forecast of approximately USD 650m for 2026. Using the USD 3.8bn purchase price, FundComb calculates below 7.6x FY2025 revenue and approximately 5.85x forecast 2026 revenue.
Open sourceContinue your research
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