Kirkland Advises L Catterton on Definitive Agreement to Acquire Thorne HealthTech, Inc.
Kirkland & Ellis represents L Catterton, a leading global consumer-focused investment firm, in its definitive agreement announced today to acquire Thorne HealthTech, Inc. (NASDAQ: THRN), a leader in delivering innovative solutions for a personalized approach to health and wellness, in a transaction valued at approximately $680 million. 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 close in the fourth quarter of 2023, subject to customary closing conditions, including receipt of required antitrust clearance and the tender of a majority of the outstanding shares of Thorne’s common stock. Following the successful closing of the tender offer, L Catterton will acquire any shares of Thorne that are not tendered in the tender offer through a second-step merger at the same consideration as paid in the tender offer.
The Kirkland team is led by corporate partners Joshua Kogan and Marshall Shaffer and associate Daniel Yip, along with corporate associates Kim Grinhaus and Linda Yang; capital markets partners Ross Leff and Zoey Hitzert; debt finance partners Jason Kanner, Kathryn Leonard and associate Ashley Martin; tax partner Vincent Thorn; and executive compensation partners Scott Price and Matthew Wood.
