L Catterton sells Thorne to P&G in $3.8 billion deal
The LVMH-backed private equity firm exits the supplements brand it backed in 2023, handing Procter & Gamble a foothold in the fast-growing wellness category.
L Catterton, the private equity firm backed by LVMH, has agreed to sell Thorne, the supplements brand best known for magnesium and omega-3 products, to Procter & Gamble in a deal valued at $3.8 billion. Thorne was founded in 1984 and received investment from L Catterton in 2023, meaning the firm has secured a substantial return in under three years.
The sale hands P&G a significant position in the science-backed supplements space, a category that has been consolidating rapidly as consumer goods giants chase the shift of household spending from traditional beauty and personal care toward wellness and longevity products. For P&G, whose core business remains anchored in mass household and personal care brands, Thorne offers a premium, clinically oriented platform with credibility among health practitioners, something harder to build organically.
For L Catterton, the deal underscores the firm's strategy of identifying category leaders in adjacent wellness and lifestyle spaces beyond its traditional luxury and beauty remit, then exiting to strategic buyers at a premium. It also reflects a broader trend of large consumer conglomerates paying up for credible wellness assets rather than building them in-house. Watch whether other luxury-adjacent investors follow L Catterton's playbook of using wellness bolt-ons as a source of outsized returns, and how P&G integrates a premium, practitioner-oriented brand within a portfolio built for mass distribution.
Support the content you love — it’s free 🎉
Add Worthbury as a preferred source on Google. Our stories will be more likely to appear in Google’s Top Stories. It’s free and supports our team. Thank you!
Add as preferred sourceYou can remove us any time in Google’s source preferences.
Thank you — you’re all set 🎉
Worthbury is now one of your preferred sources, so our briefings are more likely to appear in Google’s Top Stories.
This briefing is published daily using an AI-powered system crafted by Worthbury's team and finely tuned to meet our editorial standards. While we continuously test and review the output, mistakes can sometimes happen. Tell us if you spot one.