Grove Inc. Upexi Division Launches
Medicinal Mushroom Product Line Direct to Consumer and on
Amazon
HENDERSON, NV --
May 26, 2022 -- InvestorsHub NewsWire -- Grove Inc. (GRVI) expands into the rapidly growing market
for medicinal mushrooms and superfoods with their newest product
line, Cure
Mushrooms.
The brand offers
a US-based product line of mushroom extracts. With cultivation in
the Pacific Northwest and extraction/formulation in California, the
USDA Certified Organic brand offers a full line of liquid extracts
(tinctures) and gummies.
Cure
Mushrooms products
are vegan and completely free of preservatives, chemicals,
corn-syrup, allergens, soy, dairy, wheat, salicylates, artificial
ingredients, artificial sweeteners, flavors or colors.
This newest
launch is set to take advantage of the growing demand in the
medicinal mushroom space.
"The medicinal mushroom market is poised to
grow by $4.55 bn during 2021-2025, progressing at a CAGR of 9.15%
during the forecast period." - Via Research and
Markets
The site
is already active, while the Amazon storefront will go live
in June.
The addition of
Cure Mushrooms further adds to Grove's portfolio of consumer
product brands in the health and wellness space. The DTC and Amazon
brand strategy has been a key driver to growth and profitability.
Cure Mushrooms, alongside new brand launches and acquisitions, will
drive continued growth and profitability going forward.
CEO Allan
Marshall stated, "Our DTC
and Amazon brand sales have been a major driver of our growth to
date. Management believes this new launch and our recent
acquisition of Cygnet put us on pace for increased growth in 2023
and beyond."
About Grove, Inc.
Grove, Inc. is a global innovator in hemp, health and
wellness. The company has an array of in-house brands and operates
in multiple verticals including SaaS programmatic ad technology,
and a wholly owned division dedicated to acquiring high growth
e-commerce brands. The company sells to numerous consumer markets
including the botanical, beauty, pet care, and functional foods
sectors. It seeks to take advantage of an emerging worldwide trend
in consumer products selling through Amazon and
eCommerce.
Company Contact
Andrew Norstrud
Email: investorinfo@cbd.io
Phone: (702) 332-5591
Investor Relations
Contact
TraDigital IR
John McNamara
Email: john@tradigitalir.com
Phone: (917) 658-2602
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