Colgate-Palmolive has announced its agreement to acquire Care TopCo Pty Ltd, the owner of Australian pet food brand Prime100.
The acquisition will allow Colgate’s Hill’s Pet Nutrition division to expand into the growing fresh pet food market while complementing its existing science-led pet food offerings.
Prime100, based in Melbourne, produces fresh pet food, including refrigerated and shelf-stable products, and is sold through pet specialty stores and other retailers. Since its launch in 2014, the brand has built a strong presence with its veterinary-endorsed product range.
Noel Wallace, Chairman, President and Chief Executive Officer at Colgate, said Prime100 is a strong, veterinarian-endorsed, premium-priced brand with distinctive positioning that fits well within their long-term pet nutrition growth strategy.
“We are excited that this acquisition will add a high-growth, profitable fresh dog food asset to the Hill’s division portfolio with the opportunity to drive continued growth through expanded distribution and awareness.”
John Hazlin, President of Hill’s Pet Nutrition, highlighted the company’s commitment to pet health.
“Hill’s is committed to enriching and lengthening the special relationship between people and their pets. With this addition, Hill’s will have an even larger, complementary portfolio of advanced nutrition products, backed by science and endorsed by vets, to help pet parents meet their pets’ specialized dietary needs.”
The transaction is expected to close in the second quarter of 2025, pending regulatory approval in Australia. Colgate-Palmolive will finance the deal using a combination of debt and cash. The company does not anticipate a material impact on diluted earnings per share in 2025.
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