NEW YORK – A New York private equity firm last month completed a growth-capital investment in Luna Pharmaceuticals Inc., maker of Premama products.
River Hollow Partners, a lower mid-market private equity firm based in New York, invested in the Providence-based creator of natural powdered and soft-chew supplements designed to support preconception through nutritional needs.
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 … the team. They have made incredible progress to date in terms of product development and significant expansion in key points of sale,” said Charlie Baynes-Reid, partner at River Hollow Partners, in prepared remarks.
“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,” he added.
Baynes-Reid will be joining the Luna Pharmaceuticals board of directors.
“Ultimately, Premama wants to become a trusted, preeminent brand which can cater to maternity wellness needs at all stages of that important journey,” Baynes-Reid said.
Home Industries Financial Services Luna Pharmaceuticals receives growth-capital investment from River Hollow Partners
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