Thorne HealthTech, Inc. (NASDAQ: THRN), a global leader in delivering innovative, personalized health and wellness solutions, has announced a definitive agreement with L Catterton, a leading consumer-focused investment firm. The agreement sets the stage for L Catterton to initiate a tender offer to acquire all outstanding shares of Thorne HealthTech for $10.2 per share in cash. With a transaction value of around $680 million, this represents a staggering 94% premium to the share price as of July 20, 2023. Both Thorne’s independent Special Committee and Board of Directors have unanimously approved the acquisition, strongly recommending that stockholders tender their shares.

What the Acquisition Means for Thorne HealthTech’s Future

Thorne HealthTech has established itself as a major player in the health and wellness sector by offering science-based, personalized approaches. Leveraging artificial intelligence models and collaborating with renowned institutions like Mayo Clinic, Thorne HealthTech provides valuable insights and products to consumers and healthcare professionals. The company is trusted by over five million customers and more than 47,000 healthcare providers. Sarah Kauss, a member of Thorne’s Board of Directors, said the acquisition is the result of a meticulous process and is a testament to the hard work of Thorne’s world-class team.

L Catterton’s Role in Thorne’s Long-Term Growth

Paul Jacobson, Chairman and CEO of Thorne, expressed confidence that L Catterton, with its extensive expertise and global reach in the health and wellness industry, is the perfect partner to fuel Thorne HealthTech’s long-term growth. L Catterton has a rich history of nurturing global consumer brands and is expected to bring invaluable operational capabilities to Thorne.

Details and Timeline of the Tender Offer

As per the terms of the definitive agreement, unanimously approved by Thorne’s key decision-makers, L Catterton will commence the tender offer for Thorne’s shares at $10.2 each in cash. Subject to regulatory approvals and other customary conditions, the acquisition is expected to complete in the fourth quarter of 2023. Upon completion, Thorne HealthTech will transition to a privately-held company and its shares will be delisted from public markets.

This acquisition is set to mark a monumental chapter in Thorne HealthTech’s journey, promising lucrative returns for stockholders and exciting growth prospects for the health and wellness industry.

  artificial intelligence, L Catterton, Paul Jacobson, Sarah Kauss, Thorne HealthTech, USA