P&G to Buy Supplement Maker Thorne for $3.8 Billion
Shailesh Jejurikar, chief executive of the American personal care conglomerate, told CNBC it will acquire the line from LVMH-backed private equity firm L Catterton.
P&G, the American personal care conglomerate, has announced its intention to acquire supplement maker Thorne for a sum of $3.8 billion. This acquisition is set to take place through the lens of LCMatterton, a private equity firm backed by LVMH. The deal comes as P&G looks to expand its distribution channels, as evidenced by the recent release of the Pharrell Williams-designed shoe, a product that has been one of Adidas' most exclusive and sought-after items over the past year.
Interestingly, this strategic move by P&G may not be without its potential setbacks. Experts suggest that the fashion world is currently witnessing a significant shift in color preferences, with soft, floral-inspired purple shades gaining popularity in makeup collections and beauty campaigns. This change, they argue, marks a broader vibe shift rather than a fleeting trend.
In a separate development, pharmaceutical giant Eli Lilly disclosed plans to allow a limited number of patients early access to its experimental obesity drug, retatrutide, prior to its approval by the US FDA.
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