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Prima Acquires Prospect Farms To Create The Next Generation Wellness Platform

Dec 13, 2022•almost 3 years ago

Acquiring Company

Prima

Acquired Company

Prospect Farms Industrial Hemp Group LLC

ProspectDietary SupplementsWellnessHealth CareNutritionFood And BeverageE Commerce

Description

Prima, the award-winning, science-driven, plant therapeutic wellness brand and certified B CorpTM, today announced the acquisition of Prospect Farms. Together, they form Uplifter Brands, PBC, a next-gen CPG house of clean and conscious brands across personal care, supplements, spa and hospitality, private label, and pet wellness.

Company Information

Company

Prima

About

Prima is a science-backed whole body wellness brand that makes potent plant therapeutic skincare, body care and supplements with organic hemp CBD and functional botanicals to help combat stress and target issues at their source. Prima was founded by Christopher Gavigan, The Honest Company® co-founder, bestselling author and purpose-driven entrepreneur, Laurel Angelica Myers, mission-oriented operator and former Honest alum, and Jessica Assaf, women's health and cannabis activist. Prima's products are made with uncompromisingly highest standards of purity, potency and transparency, using clinically validated plant ingredients. Built on a core foundation of sustainability, transparency, accountability, and social leadership, Prima is Climate Neutral Certified, Certified Plastic Neutral, and a Certified B Corp. Prima is a privately held Public Benefit Corporation (PBC) based in Santa Monica, CA. www.prima.co

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed