NORTH AMERICAN BUSINESS
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
NORTH AMERICAN BUSINESS
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
NORTH AMERICAN BUSINESS
No Result
View All Result
Home ALL Consumer

Colgate-Palmolive Company Invests in Growth of its Hill’s Pet Nutrition Business with Agreement to Buy Three Manufacturing Plants from Red Collar Pet Foods

by Ed Johnson
August 2, 2022
A A

NEW YORK — Colgate-Palmolive Company plans to purchase three dry pet food manufacturing plants in the U.S. from Red Collar Pet Foods for $700 million to support the global growth of its Hill’s Pet Nutrition business.

The plants – in Orangeburg, South Carolina; Clinton, Oklahoma; and Washington Court House, Ohio – will be integrated into Hill’s global supply network to produce dry pet food for Hill’s Science Diet and Prescription Diet brands. The purchase agreement includes the transfer of the approximately 350 employees involved in the dry pet food operations.

Hill’s is currently building a new canned pet food manufacturing facility in Tonganoxie, Kansas, scheduled to begin production next year, and in April completed the acquisition of a canned pet food plant in Italy, also to meet demand for its science-led pet nutrition diets.

“Our Hill’s business is growing well, and we continue to invest to expand production capacity, improve our capabilities with initiatives like our new Small Paws Innovation Center, and better engage pet parents, veterinarians and Hill’s retail partners,” said Noel Wallace, Chairman, President and Chief Executive Officer of Colgate-Palmolive Company. “This investment will help further strengthen the Hill’s business today and for the long term.”

John Hazlin, President of Hill’s Pet Nutrition, added: “Hill’s is committed to enriching and lengthening the special relationship between people and their pets, and this additional production capability will help us reach more pets with our science-led foods and enable us to raise the level of service we provide to the specialty retailers and veterinary professionals that offer our products. We look forward to welcoming members of the Red Collar team to the Hill’s family.”

The acquisition is subject to regulatory approval and other closing conditions. The acquisition is not included in our current guidance, and is not expected to have a material impact on diluted earnings per share in 2022.

Red Collar, an Arbor Investments portfolio company, will manage the dry pet food private label business for a transition period and will continue to own and operate its pet treats business and facilities.

Wachtell, Lipton, Rosen & Katz acted as legal advisor to Colgate-Palmolive and Perella Weinberg Partners LP acted as financial advisor to Colgate-Palmolive on the transaction. Kirkland & Ellis LLP served as legal advisor to Red Collar Pet Foods, and Centerview Partners LLC served as financial advisor to Red Collar Pet Foods on the transaction.

Tags: < Invest | M&A
ShareTweetShareSend

Related Industries

Consumer

Whirlpool Corp. achieves goal of Zero Waste to Landfill for manufacturing sites worldwide

March 17, 2023
Consumer

Kimberly-Clark Ranks Third Among Barron’s 100 Most Sustainable Companies Of 2023

March 17, 2023
Consumer

Best Buy recognized as one of the 2023 World’s Most Ethical Companies®

March 14, 2023
Consumer

Gap Inc. Reports Fourth Quarter And Fiscal 2022 Results

March 10, 2023
Consumer

Forbes 2022 America’s Largest Private Companies

March 8, 2023
Consumer

The Estée Lauder Companies Appoints Lahnie Strange to Senior Vice President, Global General Manager, Bobbi Brown Cosmetics

March 4, 2023

IBM and Cohesity Announce New Data Security and Resiliency Collaboration Advancing Enterprises’ Ability to Fight the Impacts of Breaches and Cyberattacks

March 3, 2023

...

Inside Look: Introducing JD.com’s Newest Self-Operating Warehouse in California

March 3, 2023

...

AskBio Announces Gustavo Pesquin as New CEO

March 10, 2023

...

USPS Selects Ford to Electrify Nation’s Largest Federal Fleet, Purchases 9,250 E-Transit Vans

March 2, 2023

...

Mary Kay Inc. Names James Whatley Chief Information Officer

March 3, 2023

...

Jeanette Irekvist appointed President of Ericsson Canada

March 8, 2023

...

Infineon to acquire GaN Systems, strengthening its GaN portfolio and further reinforcing its global leadership in Power Systems

March 3, 2023

...

AstraZeneca Completes Acquisition of CinCor

February 25, 2023

...

Siemens Mobility to invest $220 million into North Carolina rail manufacturing facility

March 8, 2023

...

NORTH AMERICAN BUSINESS (www.na-biz.com) is a leading source of business and corporate news, information, industry trends, market updates and insights across a broad spectrum of industries in North America and worldwide.

INDUSTRIES

  • Aero
  • Agriculture
  • ALL
  • Automotive
  • Business Service
  • Chemical
  • Construction
  • Construction Materials
  • Consumer
  • Education
  • Energy
  • Entertainment
  • Environmental
  • F&B
  • Financial
  • Healthcare
  • Hospitality
  • Industrial
  • IT
  • IT Hardware
  • Logistic
  • Metal & Mining
  • Packaging & Paper
  • Rail
  • Real Estate
  • Telecom

CONTACT US

EDITORIAL:     editor#na-biz.com

PARTNERSHIP:     biz#na-biz.com

HUMAN RESOURCE:     hr#na-biz.com

* (replace # with @)

  • Official Site

Copyright © NA-BIZ.COM All rights reserved.

No Result
View All Result
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

Copyright © NA-BIZ.COM All rights reserved.