Procter & Gamble will acquire supplements brand Thorne for $3.8 billion, CEO tells CNBC

Procter & Gamble is acquiring supplement maker Thorne for $3.8 billion, CEO Shailesh Jejurikar announced on CNBC's "Squawk on the Street." The deal, set for formal announcement Tuesday, marks PG's push to expand its health business into the premium supplements category.

Jejurikar framed the acquisition as a growth play for the consumer goods giant's health portfolio. Thorne operates in the personalized nutrition and wellness space, a segment that has seen sustained demand growth over the past several years. The $3.8 billion price tag represents a significant bet by PG on the premiumization of the health and wellness market.

The acquisition comes as traditional consumer packaged goods companies face slowing growth in core categories and seek higher-margin adjacencies. PG has been strategically pruning lower-growth brands while investing in health, beauty, and personal care segments with stronger fundamentals.