Wellness Company Prima Acquires Prospect Farms
Wellness company Prima has acquired Prospect Farm and the two will form Uplifter Brands, PBC, an organization billed as providing “clean and conscious” products across personal care, supplements, private label, spa and hospitality, and pet wellness.
The acquisition gives Prima ownership of Prospect Farms, one of the nation's largest USDA Certified Organic hemp farms and manufacturing complexes. With more than 250-acres of regenerative cultivation, the farm is equipped with a state-of-the-art greenhouse, pharmaceutical-grade filing system, and on-site lab formulation and fulfillment.
"At a time when many of our competitors are shutting down, consolidating, or moving away from cannabinoids all-together, we're doubling down on the ingredient and its vast therapeutic benefits," says Laurel Angelica Myers, Uplifter Brands' Co-CEO. "With the acquisition of a USDA Certified Organic hemp farm and an even bigger plan to lead the wellness category with the cleanest, science-backed botanical therapeutic products, we can't wait to share what's coming next."
According to the company, the merger establishes Uplifter Brands as the first-ever purposeful collective of brands and people that stands "UP" for the healthiest future of people, pets, and the planet.
Uplifter unifies Prima's clinically-backed, award-winning products, and national distribution at Sephora and The Vitamin Shoppe, with Prospect Farms' raw material cultivation and manufacturing capabilities, as well as their established Spa and Hospitality partnerships at Equinox, Exhale Spa, Castle Hot Springs and Cowshed at Soho House.
Company officials said the collective is uniquely positioned to take market share across multiple verticals, and lead the slow-to-evolve wellness categories of U.S. beauty and personal care market ($80 billion), global pain management therapeutics market ($72 billion), U.S. stress market ($70 billion), and U.S. pet care market ($103.6 billion).
"We're thrilled to join Prima and partner closely with their team of proven consumer products experts to build Uplifter Brands, which is uniquely positioned to be the next generation wellness platform with a portfolio of truly trusted products for the whole family,” said Brad Tipper, Uplifter Brands' Co-CEO. “Our house of purpose-driven brands, underpinned by an unwavering commitment to sourcing, science and standards, will lead the wellness category with formulation science, operational excellence, and vertical integration from seed-to-store.”