Thorne HealthTech

CG Sawaya Partners Acts as Exclusive Financial Advisor to Thorne HealthTech on its Pending Sale to L Catterton for Approximately $680 million

CG Sawaya Partners is pleased to announce that on August 28, 2023, its client Thorne HealthTech, Inc. (Nasdaq: THRN) and L Catterton announced a definitive agreement for L Catterton to acquire Thorne for $10.20 per share in cash. The transaction value of approximately $680 million represents a 94% premium to the unaffected closing price on July 20, 2023 and a 113% premium to the 30-day volume weighted average price as of the unaffected date of July 20, 2023.

Under the terms of the agreement, which was unanimously approved by Thorne’s independent Special Committee and Board of Directors, L Catterton will commence a tender offer to acquire all of Thorne’s outstanding shares of common stock for $10.20 per share in cash. The transaction is expected to be completed in the fourth quarter of 2023, subject to customary closing conditions, including satisfaction of the minimum tender condition and receipt of regulatory approvals.

Thorne HealthTech is a leader in developing innovative solutions for delivering personalized approaches to health and wellness. As a science-driven wellness company that empowers individuals with the support, education, and solutions they need to achieve healthy aging – living healthier longer – Thorne utilizes testing and data to create improved product efficacy and to deliver personalized solutions to consumers, health professionals, and corporations.

L Catterton is a market-leading consumer-focused investment firm, managing approximately $34 billion of equity capital and three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio.