L Catterton to take vitamin maker Thorne private for $680m

• When the deal closes, Thorne HealthTech will no longer trade on the NASDAQ
• The transaction is expected to be completed in the fourth quarter of 2023
• L Catterton invests in the consumer sector

L Catterton has agreed to acquire U.S. based supplement manufacturer Thorne HealthTech for about $680 million.

According to terms of the deal, L Catterton will acquire $10.20 per share in cash.

When the deal closes, Thorne HealthTech will no longer trade on the NASDAQ.

“We have admired Thorne for many years given its uncompromising approach to science and innovation as well as its commitment to transforming consumers’ lives and approach to health and wellness,” said Marc Magliacano, a managing partner in L Catterton’s Flagship Fund in a statement. “As one of the pioneers of the wellness movement, Thorne continues to lead by example and is on the precipice of breakthrough products and technologies that will allow consumers to significantly extend their healthspans through personalized wellness programs developed by Thorne’s proprietary dataset and protocols.”

The transaction is expected to be completed in the fourth quarter of 2023.

CG Sawaya Partners (operating under Canaccord Genuity) served as financial advisor and Wilson Sonsini Goodrich & Rosati served as legal advisor to Thorne and the Special Committee of the Board of Directors. BofA Securities served as financial advisor and Kirkland & Ellis LLP served as legal advisor to L Catterton.

L Catterton invests in the consumer sector. Founded in 1989, the firm is managing approximately $34 billion of equity capital and three multi-product platforms.