Thorne L Catterton made a significant move in the health and wellness industry by acquiring Thorne Healthtech for $680 million. This acquisition marks a major milestone for the company.
Thorne Healthtech is a leading provider of clinical diagnostics and nutritional supplements. Thorne Healthtech's products are used by healthcare professionals to support patient care.
The acquisition is expected to expand Thorne L Catterton's presence in the health and wellness market. Thorne L Catterton is a global leader in the consumer industry.
The deal is a testament to Thorne L Catterton's commitment to investing in innovative and growing companies.
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Background
L Catterton is gaining access to Thorne's data as part of the acquisition. This data will be valuable in helping Thorne grow and expand its business.
Joshua Schall, a functional CPG strategist, explained in a recent YouTube video that Thorne will get a private equity company with global reach and deep expertise in health and wellness. This is a significant advantage for Thorne.
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L Catterton has a history of investing in health and wellness companies, including Persona, a personalized nutrition company that was sold to Nestle Health Science. This shows that L Catterton is committed to investing in the health and wellness space.
The acquisition is expected to be finalized in the fourth quarter of 2023, subject to meeting customary closing conditions and regulatory approvals. This will mark a significant change for Thorne, which will transition to private ownership and no longer trade on the NASDAQ.
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L Catterton's Acquisitions
L Catterton has made over 250 investments in some of the world's most iconic consumer brands.
L Catterton is a market-leading consumer-focused investment firm, managing approximately $34 billion of equity capital.
The firm has three multi-product platforms: private equity, credit, and real estate, which leverage deep category insight and operational excellence.
L Catterton's team of over 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation.
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BofA Securities served as financial advisor to L Catterton, and Kirkland & Ellis LLP served as legal advisor.
L Catterton previously announced that, as of the Expiration Time, 52,596,517 Shares were validly tendered and not validly withdrawn in the Offer, representing 97.3% of the issued and outstanding Shares as of the Expiration Time.
Frequently Asked Questions
How much is L Catterton worth?
L Catterton Management Limited's estimated net worth is at least $167 million as of 2024. This figure may be subject to change and is based on data from December 18, 2024.
Sources
- https://www.prnewswire.com/news-releases/l-catterton-completes-acquisition-of-thorne-healthtech-inc-301957541.html
- https://www.nutraingredients-usa.com/Article/2023/09/05/Thorne-HealthTech-acquired-by-L-Catterton-for-680M/
- https://vator.tv/news/2023-10-16-l-catterton-finalizes-680m-purchase-of-thorne-healthcare
- https://www.alternativeswatch.com/2023/08/28/l-catterton-enters-680m-deal-to-acquire-supplement-maker-thorne-healthtech/
- https://www.citybiz.co/article/478385/l-catterton-completes-acquisition-of-thorne-healthtech/
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