NEW YORK, NY, October 28, 2016 – River Hollow Partners announced today that it completed a growth capital investment in Luna Pharmaceuticals, Inc., the holding company of the Premama brand. Premama is the creator of a best-in-class line of natural powdered and soft chew supplements formulated to support preconception through postnatal nutritional needs, concerns and conditions. Premama is all-natural, doctor recommended and award-winning, including a NEXTY award for Premama Fertility, recognized for Best New Supplement Delivery Format at Natural Products Expo West in 2016.
Founded in 2011, Premama represents the first nationwide line of natural powdered drink mixes and soft chews to support complete maternity wellness from preconception through pregnancy and beyond. In the past 12 months Premama, has undergone record retail expansion, experiencing rapid growth from 1,100 to 7,700 retail distribution points since April 2015 and a significant 360% growth in sales from August 2015 to August 2016. Spearheading maternity wellness as a retail category, Premama has pioneered industry awareness and consumer demand with products for the entire maternity journey.
The terms of the transaction were not disclosed.
“From our first meeting we have been extremely impressed by the clear brand vision and growth strategy of Dan and the team. They have made incredible progress to date in terms of product development and significant expansion in key points of sale” says Charlie Baynes-Reid, Partner at River Hollow Partners. “Premama is not just looking to participate in the rapidly expanding maternity wellness category, but rather define it by leading in terms of product innovation. Ultimately, Premama wants to become a trusted, preeminent brand which can cater to maternity wellness needs at all stages of that important journey.” Mr. Baynes-Reid will be joining the Board of Directors.
“I could not be more excited to have River Hollow Partners join our investment group, our team and our board. Premama has already grown over 300% YTD, and River Hollow’s investment will provide us with additional capital to continue and even accelerate this growth, helping to ensure our long term success,” says Dan Aziz, Founder and President of Premama. “Most importantly, when we began looking for capital for our Series B, we knew River Hollow was the right fit due to their entrepreneurial mindset as an active growth capital investor and significant experience at the board level and across CPG businesses, which we believe is just as important as their financial investment.”
Loeb & Loeb LLP acted as legal advisor to River Hollow Partners. Rubin and Rudman LLP acted as legal advisors to Premama.