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
- Announced
- 2026-08-04
- Geography
- United States
- Tags
- SupplementsVitaminsVMSWellness
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- -
- First added
- 2026-08-08
- Latest update
- 2026-09-17
Parties at the deal date
Seller
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
Price / value
USD 3.8B
Consideration | USD
Basis: Public source
Price / revenue
5.85x
Period: Forward 2026
Basis: Derived from source data
Price / EBITDA
-
EBITDA basis not stated
Basis: Derived from source data
Basis
- USD 3.8bn consideration is treated as publicly disclosed or derived directly from public source data.
- Implied Price / revenue is 5.85x, calculated from USD 3.8bn value and USD 650m revenue.
- Revenue and multiple inputs are not fully disclosed in public transaction materials reviewed; treat the multiple as an estimate.
- Metric period: Forward 2026.
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 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 source