LONDON — Tenacious Labs, an international consumer products group, announced that it has acquired Rover’s Wellness. The acquisition is Tenacious Labs’ first entrance into the pet care market.
Based in Tennessee, Rover’s Wellness specializes in health products for pets containing hemp. The brand’s products, which include oils, freeze-dried chews and salves, are formulated with broad spectrum hemp oil and naturally occurring CBD, providing pets with beneficial terpenes and cannabinoids without any THC. Its products are developed to help pets with joint flexibility and mobility and can help ease joint stiffness, as well as promote calmness and overall long-term health, according to the company.
Rover’s Wellness stated its products are backed by extensive research and development. According to the brand, transparency and consumer education are a priority when developing its hemp-based products.
“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 United States.”
To create its products, Rover’s Wellness uses US-grown hemp and cutting-edge technology to extract hemp oil that is THC-free. The brand is committed to quality and safety and tests its hemp oil before production and its finished products after production to ensure efficacy. Rover’s Wellness also publishes the testing results on its website for consumers to easily access.
According to Prohibition Partners’ “The Impact Series: Disrupting Petcare Report” shared by Tenacious Labs, global sales of CBD-based pet care products are anticipated to reach $424.2 million by 2024, which represents an annual growth rate of 18.6%. With this in mind, Tenacious Labs has focused its acquisition efforts on CBD brands within the human and pet markets.
Since its launch in 2020, Tenacious Labs has acquired three brands, including Press Pause, a female-focused CBD brand; SZM LLC, a white-label manufacturer which now operates as TL Manufacturing; and Rover’s Wellness.
“Looking ahead, we’re excited at the growth opportunities for both Rover’s Wellness and Tenacious Labs’ broader pet care division,” Morland said. “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.”
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