Cash Flow: Reigning Champ Acquired, Primal Strength Raises Millions, Danone Snaps Up Harmless Harvest

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The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.

Reigning Champ acquired for $63m

Men’s athleisure brand Reigning Champ has been acquired for $63m by global design house Aritzia.

The brand will continue to operate in partnership with Aritzia through a transition period of approximately five years to allow both businesses to focus on sustaining their unique brands and cultures while leveraging mutually beneficial synergies and efficiencies to an accelerated path forward.

Primal Strength raises multi-million-pound investment from Flywheel Partners

Supplier of fitness products Primal Strength has secured a multi-million-pound investment from Flywheel Partners to scale up its business. The new capital will be used to increase awareness of the brand’s product and service offering. 

The company, which launched five years ago has seen its annual revenues more than quadruple since 2018.

Danone Manifesto Ventures buys majority stake in Harmless Harvest

Danone Manifesto Ventures (DMV) acquired a majority stake in Harmless Harvest, a leader in organic coconut-based products including coconut water and dairy-free coconut yoghurt alternatives.

The deal comes four years after Danone Manifesto Ventures led a $30m capital growth round in the company, alongside Mousse Partners and other investors. DMV will continue to provide financial, strategic, and operational support in all appropriate business areas while Harmless Harvest continues to operate independently. However, this transaction will provide Harmless Harvest with additional resources and operational capabilities to help further propel its growth and sustainability initiatives, from Thai coconut farms to US shelves.

Danone Manifesto Ventures buys majority stake in Harmless Harvest

Image: Harmless Harvest

Sword Health banks $85m for musculoskeletal care

Sword Health, a virtual care platform for musculoskeletal health has raised $85m in a Series C funding round led by General Catalyst. BOND, Highmark Ventures, BPEA, Khosla Ventures, Founders Fund, Transformation Capital and Green Innovations also participated. 

The startup, which recently experienced a period of rapid growth, will use the capital to enhance product capabilities, expand industry partnerships and drive adoption across the benefits management ecosystem with employers, health plans and alliance partners.

AMP Human merges with Momentous

Amp Human, a human performance company best known for its flagship product PR Lotion,  announced a merger with Momentous, a performance nutrition company. Moving forward, both companies and future product launches will live under the Momentous brand name.

Both venture-backed companies are focused on being at the forefront of human performance, dedicated to best in class products, and building personalised approaches for athletes over time. Combined, there is an accelerated product portfolio to advance the vision of a personalised high-performance system even further.

Vite Naturals launches crowdfunding campaign

Vite Naturals, creators of plant-based F&B products and what it claims are Europe’s first probiotics and Nootropics (Mental Performance and Brain Health) snack bars, is looking to raise £200,000 via a Seedrs crowdfunding campaign which launched on 6th July. 

The startup plans to use the funds raised to drive expansion and progress its mission to get true functional nutrition into the hands of the mass market and as readily available as chocolate bars and energy drinks.

Prevayl secures £7.5m for data-driven sportswear

Data-driven luxe sportswear startup Prevayl has secured £7.5m from Stonebridge to take wearable health technology to new heights.

The cutting-edge sports performance brand is looking to empower consumers with their own biometric data, bringing together a premium, discreet aesthetic with powerful insight in a seamless user experience. At launch, the fashion-forward brand will consist of three distinct elements: sportswear, hardware and an app, underscoring its vision to straddle the athleisure and tech industries.

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