Colgate-Palmolive Company announced on February 13, 2025, an agreement to acquire Care TopCo Pty Ltd, the owner of the Prime100 pet food brand. This strategic acquisition marks Colgate's entry into the rapidly expanding fresh pet food category, complementing its existing science-led, veterinarian-endorsed specialty pet food diets.
Prime100, based in Melbourne, Australia, is a leading fresh pet food brand established in 2014, known for its science-backed product lines and veterinary endorsement. The acquisition is expected to strengthen Hill's Pet Nutrition's presence in the Australian pet food market and drive continued growth through expanded distribution and awareness.
The transaction will be financed through a combination of debt and cash and is anticipated to close in the second quarter of 2025, pending regulatory approval in Australia. Colgate-Palmolive stated that the acquisition is not expected to have a material impact on its diluted earnings per share in 2025.
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