Abstract Phosphopantetheine‐dependent enzymes are a group of multifunctional or individual enzymes including fatty acid synthases, polyketide synthases and nonribosomal polypeptide synthases, all of which utilize the 4′‐phosphopantetheine moiety attached to an acyl carrier protein or a peptide carrier protein. The terminal thiol group of 4′‐phosphopantetheine is covalently attached to any of a number of acyl groups in the form of a thiol ester to facilitate acyl transfer and nucleophilic activation.