Press release: Tenacious Labs
Tenacious Labs, a pioneering international consumer products group championing emerging plant-based ingredients, including CBD and psilocybin, recently announced that it has acquired Rover’s Wellness, a Tennessee-based company that creates organically grown true broad spectrum hemp oil products for pets.
Rover’s Wellness is committed to developing top quality and highly beneficial products that help pets live their best lives. The brand uses only true broad spectrum hemp oil with naturally-occurring CBD, which allows all beneficial terpenes and cannabinoids to work synergistically together to create the “entourage effect” without the psychoactive effects of THC. Rover’s Wellness products are formulated to help support joint flexibility and mobility and ease joint stiffness due to daily exercise and activity. Additionally, the range supports pets in coping with external stresses and promotes long-term health.
With nearly five decades of experience in the pet industry, Rover’s Wellness team values research and development, making transparency and education a priority when developing the highest quality pet products. Grown in the U.S.A., Rover’s Wellness hemp is extracted using cutting-edge technology for a premium finished product that is THC free. The hemp oil is third party lab tested before production, then the final product is tested again with (COA) results easily accessible on the Rover’s Wellness website, giving pet parents extra peace of mind in knowing exactly what they are buying for their pets.
“We’re delighted to welcome Rover’s Wellness to Tenacious Labs,” said Nicholas Morland, chief executive officer and co-founder of Tenacious Labs. “Since launching in 2018, the brand has grown rapidly, launching genuinely market-leading products which have been well received by customers across the US. Looking ahead, we’re excited at the growth opportunities for both Rover’s Wellness and Tenacious Labs’ broader pet care division. The CBD pet space is a rapidly accelerating sector with many, many brands vying for visibility. As part of our investment in Rover’s Wellness, we are conducting a comprehensive review of the brand image and values, to ensure that we continue to deliver excellent quality, innovative products that fit the needs of pet parents and their pets.”
The acquisition of Rover’s Wellness represents an important milestone in Tenacious Labs’ strategy to become a leading consumer products group globally and sees the Group diversifying into the high growth pet care market for the first time. According to Prohibition Partners, global sales of CBD pet care products are expected to reach $424.4M by 2024, representing a compound annual growth rate of 18.6 percent.
Since launching 2 years ago, Tenacious Labs has completed three acquisitions, including female-focused CBD brand Press Pause and high-quality white-label manufacturer SZM LLC – now operating as TL Manufacturing. The Group has also continued to expand, now employing 35 people around the world as it looks to scale up.
Rover’s Wellness is committed to developing top quality and highly beneficial products that help pets live their best lives. All of its products feature organically grown true broad spectrum hemp oil with naturally-occurring CBD. Grown in the USA, its hemp is extracted utilizing cutting-edge technology for a premium finished product that is THC free. Rover’s Wellness tests its oil before and after production and posts third party lab results on its website, giving pet parents extra peace of mind knowing exactly what they are giving their pets. Rover’s Wellness donates 5 percent of its proceeds to Cancer Research for Pets.
Tenacious Labs is a pioneering international consumer products group championing emerging plant-based ingredients, including CBD. It aims to bring clarity, understanding and an unwavering trust to the benefits that these natural ingredients provide.
Designed by industry experts, Tenacious Labs’ strategic goal is to become a leading consumer products group globally. Its portfolio of brands includes female-focused premium CBD brand, Press Pause, and HOO RAA, a lifestyle CBD brand designed for young adults.
To help shape the next phase of growth in emerging industries, Tenacious Labs plays a critical role in increasing dialogue between businesses and regulators, governments and legislators. In Jersey, Channel Islands, Tenacious Labs chairs the Jersey Cannabis Advisory Board industry body. In the UK, it acts as Secretariat for the All-Party Parliamentary Group for CBD products – a cross-party body designed to encourage the development of UK regulation.
Tenacious Labs owns and operates its own high-quality, manufacturing facility which provides the group with significant capacity to scale CBD production and accelerate its growth. A commitment to sustainability is at the center of Tenacious Labs’ business and it works closely with its partners and suppliers to ensure that consumers only ever receive high-quality products with clean, trusted ingredients.
The Group is headquartered in London with offices in Miami and Denver and is wholly owned by Delarki, a search fund aimed at early-stage and discretionary-spend business opportunities targeting Generation Y and Z audiences.