Prime Matter Labs has acquired Mana Products, a struggling makeup contract manufacturer, from Traub Capital. The deal concludes a troubled period for Mana Products, which furloughed employees and explored sale options before shutting down operations. Mana Products is amongst the largest colour cosmetics manufacturers in the United States, with operations spanning makeup, skincare and haircare. Sources estimate skincare accounted for roughly a third of the company's business, part of Traub Capital's strategy to diversify category exposure. Prime Matter Labs is backed by Monogram Capital. Women's Wear Daily first reported the employee furlough, sale exploration and acquisition.

This month, Prime Matter Labs (PML) has launched Element as a solution for many common pain points that brands need to navigate when bringing a new product to market.