Aug 4 (Reuters) – 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.
UK-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.
(Reporting by Juveria Tabassum in Bengaluru and Alexander Marrow in London; Editing by Anil D’Silva)
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