P&G’s Wellness Focus Grows Following US$3.8bn Thorne Deal

Global consumer goods giant Procter & Gamble (P&G) is expanding its Health Care portfolio following its US$3.8bn acquisition of Thorne, as the company looks to tap into rising consumer interest in self-care, preventive health and personalised wellness. 

P&G’s Health Care portfolio has evolved from a traditional consumer healthcare business centred on oral care and OTC medicines into a broader health and wellness platform. 

The global consumer health market exceeds an estimated US$375bn in retail sales, with P&G well-positioned to maintain its strong presence in the sector.

Household brands already within its Health Care portfolio include Vicks, Crest, Oral-B, Metamucil, Pepto-Bismol, Fixodent, and Neurobion, alongside supplement brands Align Probiotic and New Chapter.

Writing on LinkedIn, Paul Gama, CEO of P&G Health Care, says, “This is…an amazing brand with a wonderful health practitioner heritage. It's science-backed, quality-driven. I am really looking forward to working with this [the Thorne] team.”

Science-based supplements

Thorne has built its reputation over four decades on scientific rigour, product quality and a strong relationship with the healthcare practitioner channel. 

The brand is recommended by tens of thousands of healthcare practitioners and used by more than seven million consumers, with several of its products carrying NSF Certified for Sport status.

Its consumer health offering also extends into technology, including Taia, an AI-powered wellness advisor that provides nutritional guidance and product recommendations to users.

“For more than 40 years, Thorne has earned the trust of healthcare practitioners, consumers, and partners by putting science, quality, and the people we serve at the center of every decision,” says Colin Watts, CEO of Thorne.

“As we looked to the future, we kept coming back to one question: What will best position Thorne to continue fulfilling its mission? We believe P&G is the right partner to help us expand our impact while staying true to the values and standards that have always defined Thorne,” continues Colin. 

A steep growth trajectory

Thorne’s US$3.8bn price tag reflects a rapid rise in value. 

The company listed publicly in late 2021 at a valuation of around US$525m, before investment firm L Catterton took it private again in 2023 in a US$680m deal. 

Since then, revenue has climbed from roughly US$229m in 2022 to more than US$500m in 2025, and the company is on track to hit US$650m in annual revenue this year, fuelled by strong Gen Z spend.

Around 60% of Thorne's revenue now comes from consumers under the age of 40, with roughly half of its under-40 direct-to-consumer shoppers on subscription.

P&G is acquiring Thorne from L Catterton's Flagship Fund, with the transaction expected to close later in 2026, subject to customary regulatory approvals.

Strong vitamin market expansion

The global vitamins, minerals and supplements (VMS) market is estimated to be worth more than US$160bn and is being fuelled by rising consumer demand for preventative health, personalised nutrition and science-backed wellness solutions. 

The P&G-Thorne deal also comes amid a broader wave of consumer-health dealmaking, with other consumer goods brands moving into the wellness space.

Recent activity includes Unilever’s US$1.2bn acquisition of gummy supplement brand Grüns in June 2026 and Danone’s deal with functional nutrition brand Huel for around €1bn (US$1.15bn) in March 2026, highlighting how major consumer goods players are moving to capture share of a wellness category once dominated by specialist and independent brands.