Boosted furthers its mission to build the modern-day Procter & Gamble
NEW YORK–(BUSINESS WIRE)–Boosted Commerce, the leading consumer eCommerce platform that acquires and grows third-party businesses on Amazon and Shopify, today announced the acquisition of WellPath, the leader in nutritional supplements. From 2019 to 2020, WellPath’s sales grew 139%, and this year, WellPath earned a top spot on Inc’s fastest-growing companies list, ranking #68 out of 5,000. This acquisition underscores Boosted’s dedication to becoming a leader in the wellness space. With its deep industry expertise both on and off Amazon, Boosted plans to scale WellPath through new product development and offline marketing to complement the company’s existing suite of top-line wellness products.
McKinsey & Co. recently valued the global wellness market at more than $1.5 trillion and growing. Yet, while the industry grows, a significant portion of the category remains untapped by aggregators, who shy away due to operational complexities or the threat of mainstream competition. In fact, according to a recent survey by Fortunet, supplements and cosmetics are two of the categories aggregators exclude when purchasing Fulfilled By Amazon (FBA) businesses. That said, Amazon recently called beauty, another category Boosted has heavily focused on, one of its fastest-growing categories, and in 2020, it captured 32% of beauty and personal care purchased online. Boosted believes that trend will only continue.
“At Boosted, not only are we not intimidated by these categories, but we are actively pursuing them,” said Boosted’s CEO and Co-founder, Keith Richman. “We think there is an incredible opportunity within wellness as everyone from Gen Z to Boomers recognizes the positive impact that high quality supplements can have on their well being. We also have a deep understanding of the customers in these categories. They are more likely to develop an affinity for the brands they love, resulting in repeat purchases and bigger basket sizes.”
Boosted has assembled a team of experts in product marketing, supply chain management, and data insights to focus on the wellness and personal care markets and their customer base. This expertise has led to Boosted expanding its position in the market, making it the leading choice for sellers like WellPath who want to succeed in the space.
WellPath was founded in 2013 with the mission to simplify modern wellness through clean, natural products paired with extensive consumer education and content. WellPath produces non-GMO, gluten-free, and third-party tested products featuring superfoods. This acquisition gives WellPath the ability to double down on its existing portfolio while broadening its reach into new categories.
“Our vision has always been to create a brand that demystifies the opaque world of nutritional supplements with educational, empowering, and engaging content and products,” said Colin Darretta, co-founder of WellPath. “The Boosted team understands the supplement market and the nuanced challenges it presents as well as anyone we spoke with and was clearly best positioned to enable us to deliver on our mission,” he said.
Boosted has seen explosive growth in 2021, having expanded its team 4x and expecting to collect more than $150M in revenue by the end of the year. In Q4, Boosted is projected to increase revenue by more than 64% compared to Q3.
For more information on Boosted Commerce, visit https://boostedcommerce.com.
For more information on WellPath, visit https://gowellpath.com.
About Boosted Commerce
Boosted Commerce buys, builds, and grows high-quality commerce brands. Through its use of proprietary data and technology, Boosted identifies market opportunities, product trends, and emerging brands. Boosted then fuels rapid growth of its portfolio using its “Boosted Brain” playbook containing more than 1,250 eCommerce operating procedures. Boosted has acquired 40 brands, which boast category-leading products distributed across Amazon, Walmart, and other retail channels along with a competitive D2C presence. Successful entrepreneurs in their own right, Boosted’s founders, Keith Richman and Charlie Chanaratsopon, not only bring strong retail and digital marketing experience to the organization, but are passionate about helping founders achieve their vision. With the end customer top-of-mind, the Boosted team prides itself on a product-first approach to the growth and development of its portfolio. Boosted Commerce has raised $380M in capital, and its portfolio of brands includes Simplified Skin, Tub Cubby, and Asterwood Naturals. For more information, visit https://boostedcommerce.com/.
About WellPath
Redefining the supplement marketplace, WellPath is an innovative solution to modern wellness. Using extensive scientific research, online consultations, and sophisticated proprietary technology, WellPath formulates nutritional supplements tailored to the unique goals and needs of modern consumers. WellPath’s products — ranging from pills and powders to gummies — are made from only the most potent and pure ingredients and are available on gowellpath.com and Amazon.com. Welcome to WellPath. Modern Wellness Simplified.
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Morgan Borer
Morgan@bevelpr.com
