Tide maker Procter & Gamble will announce the acquisition of supplements maker Thorne on Tuesday, P&G CEO Shailesh Jejurikar told CNBC in an interview."What I can say is the price is a good price for the growth rates they have. It's kind of in line with the industry benchmarks we've seen," Jejurikar told CNBC.P&G and Thorne did not immediately respond to Reuters requests for comment seeking additional details on the deal.Also Read: P&G India flags pressure on consumer demand, input costsUK-based consumer health company Haleon was bidding for Thorne, Reuters reported in June, citing sources.The supplements maker was valued at up to $4 billion, according to a Financial Times report in June.Last week, P&G forecast slower annual sales growth, even as its beauty and wellness division posted strong results, helped by consumers' willingness to spend on discretionary self-care products.
P&G seals Thorne deal to expand wellness business
Procter & Gamble will announce its acquisition of Thorne supplements on Tuesday. The company's CEO stated the acquisition price aligns with industry benchmarks. Haleon, a UK consumer health firm, was reportedly bidding for Thorne. Thorne was valued at up to four billion dollars in June. P&G recently forecast slower annual sales growth despite strong beauty division results.
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