September, 12 2023
WM PARTNERS ANNOUNCES MAJORITY ACQUISITION OF PRIMAL HARVEST
Aventura, FL. September 12, 2023; WM Partners, a certified diverse-owned private equity firm focused on investing in middle market companies and driving value creation in the health and wellness sector, today announced that HPH III Investments, LP (together with its parallel funds and affiliated entities "HPH III"), has acquired a majority control position in Prime6 Brands GmbH and its subsidiaries ("Prime6"). Prime6 is best known for its brand Primal Harvest, which is a 100% digital ecommerce brand that develops nutritional supplements using a holistic approach to wellness. It also has a skin care brand, BeautyLux, that offers specifically formulated skin, hair and nail products with a focus on self-care. Terms of the transaction were not disclosed.
Founded in 2019, Prime6 is a fast-growing DTC brand, combining scale and profitability. With offices in Miami, FL and Cologne, Germany, Prime6 develops and markets premium quality nutritional supplements that are sold through their own website and Amazon, with 75% of total sales in the United States and 25% in Europe. Prime6 prides itself on leading customer retention metrics and a rapidly growing subscriber base driven by its unique educational content and the team's deep digital marketing and e-commerce expertise.
HPH III is focused on acquiring middle market companies with leading and emerging brands in the natural consumer health sector within the health and wellness industry and growing the companies through an operational buy and build value creation strategy. The WM Partners team has developed this operational expertise in the natural consumer health sector for decades and has been executing its operational playbook in WM Partners' two prior funds. Within natural consumer health, HPH III is focused on brands in functional foods, natural personal care, pet care, vitamins, minerals and supplements and natural over-the-counter remedies – subsectors with highly attractive tailwinds fueled by secular consumer shifts towards self-care and preventative care as well as compelling sustainable growth, fragmentation and resiliency.
Prime6 is the second acquisition by HPH III and a company we believe will complement HPH III's growing portfolio due to its digitally-native and high-margin DTC model. "We recognize the importance and continuous migration to the DTC channel. We are excited to partner with the Prime6 team and support the company's growth in this channel as well as penetrate new channels and other geographic markets, by applying our operational toolkit. We look forward to leveraging the team's DTC expertise and disciplined and analytical approach to product development," said Jose Minski, Co-Founder of WM Partners.
"Over the last four years, our team at Primal Harvest has built a leading global DTC business that proudly delivers quality health and wellness products. With WM Partners we've found a partner that shares our vision for the future and will help us drive even more value and scale across Europe and North America. We're thrilled to join forces and take Primal Harvest to the next level together," said Max Gabath, Co-Founder of Prime6.
Dentons served as legal advisor to WM Partners. BCLP served as legal advisor and Raymond James served as sell-side advisor to Prime6.
About WM Partners, LP
WM Partners is a middle-market private equity firm specializing in buyout investments in the health and wellness sector. WM Partners seeks to acquire small and medium size businesses with attractive growth prospects and generate sustainable, long-term value through its operational expertise in the health and wellness sector, and strategic business approach working in collaboration with experienced management teams. WM Partners is certified as a diverse-owned firm by the National Association of Investment Companies. WM Partners is based in Aventura, FL. More information about WM Partners is available at www.wmplp.com.
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WM Partners, LP
Tel: +1 754-260-6507