Prima launches clean label wellness platform after Prospect Farms acquisition

15 Dec 2022 --- Plant-therapeutic wellness brand Prima has acquired Prospect Farms to create a “cutting-edge” wellness platform dubbed Uplifter Brands, housing clean and conscious brands across personal care, supplements, spa and hospitality, private label and pet wellness.

The acquisition gives Prima ownership of Prospect Farms, one of the largest USDA-certified organic hemp farms and manufacturing complexes in the US. Prima shares that the merger establishes Uplifter Brands as the “first-ever” purposeful collective of brands.

“At a time when many of our competitors are shutting down, consolidating or moving away from cannabinoids altogether, we’re doubling down on the ingredient and its vast therapeutic benefits,” says Laurel Angelica Myers, co-CEO of Uplifter Brands.

A privately held Public Benefit Corporation, Uplifter Brands is a collective of brands and businesses for ingredients and products that are responsibly sourced and manufactured. 

The collective is positioned to dominate the slow-to-evolve wellness categories of the US beauty and personal care market worth a reported US$80 billion, the global pain management therapeutics market (US$72 billion) and the US stress market (US$70 billion).

Uplifter Brands aims to dominate the slow-to-evolve wellness categories.Unifying brand and products
Uplifter Brands unifies Prima’s clinically-backed products and national distribution at Sephora and The Vitamin Shoppe with Prospect Farms’ raw material cultivation and manufacturing capabilities, as well as its established Spa and Hospitality partnerships at Equinox, Exhale Spa, Castle Hot Springs and Cowshed at Soho House.

With over 250 acres of regenerative cultivation, the farm has a greenhouse, pharmaceutical-grade filing system and on-site lab formulation. 

“This is a moment to lead with uncompromising conviction and vision to engineer brands that are boldly conscious, rigorously clean, standards-led, socially just and environmentally accountable to ensure consumers can access new and better innovations for healthier, more sustainable lives,” says Christopher Gavigan, executive chairman at Uplifter Brands.

“Together with our incredibly talented team and partners, the Uplifter Brands platform will further expand our healthcare and climate commitments, as well as our public benefit business leadership.”

Strategic investors advising the transaction include Spencer Potts. Notable investors in Uplifter Brands include Maximalist, Greycroft, Lerer Hippeau, Global Founders Capital, Ropart Asset Management and Platform Ventures. 

Edited by Inga de Jong