Big news for pet parents! Colgate-Palmolive’s Hill’s Pet Nutrition division is expanding its offerings with the acquisition of Prime100, a leading Australian fresh pet food brand.
Colgate-Palmolive is making a significant move in the pet food industry. The company announced its agreement to acquire Care TopCo Pty Ltd, the owner of Prime100, a popular Australian fresh pet food brand. This acquisition marks Hill’s Pet Nutrition’s entry into the rapidly growing fresh pet food category, complementing its existing line of science-backed, veterinarian-endorsed specialty diets.
Why Prime100?
Prime100, based in Melbourne, offers both refrigerated and shelf-stable fresh pet food products. The brand has carved out a strong position in the Australian market thanks to its science-backed formulas and veterinary endorsements.
Colgate-Palmolive sees this acquisition as a strategic move to strengthen its presence in Australia and tap into the high-growth potential of the fresh pet food segment.
A Winning Combination?
Colgate-Palmolive Chairman, President, and CEO Noel Wallace expressed excitement about the acquisition, highlighting Prime100’s strong brand recognition and alignment with the company’s long-term pet nutrition growth strategy.
John Hazlin, President of Hill’s Pet Nutrition, emphasized the commitment to enriching the bond between pets and their owners, noting that Prime100 will expand Hill’s portfolio of advanced nutrition products.
What’s Next?
The acquisition is expected to close in the second quarter of 2025, pending regulatory approval in Australia. While the transaction is not anticipated to have a material impact on earnings per share in 2025, the long-term growth potential for Hill’s Pet Nutrition in the fresh pet food market is significant.
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