Procter & Gamble is buying supplement brand Thorne for $3.8 billion, CEO Shailesh Jejurikar said on CNBC's "Squawk on the Street." The acquisition, which is set to be announced Tuesday, is a bid for P&G to grow its health and wellness division. "We are really happy with the asset itself," Jejurikar told CNBC's Sara Eisen. "It's a really well-run operation, and it's been around for a long time." Thorne was founded in 1984 and went public in late 2021 at a valuation of $525 million.