Colgate-Palmolive Company Announces Agreement to Acquire Prime100
Based in
Noel Wallace, Colgate’s Chairman, President and Chief Executive Officer commented, “Prime100 is a strong, veterinarian-endorsed, premium-priced brand with distinctive positioning that fits well within our 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, added, “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. We look forward to working with the Prime100 team and are confident that our joint expertise will drive new discoveries, empower veterinarians and provide pet parents with more tailored nutritional solutions.”
The transaction will be financed with a combination of debt and cash and is currently expected to close in the second quarter of 2025. The acquisition is conditioned upon receipt of regulatory approval in
The transaction is not expected to have a material impact on diluted earnings per share in 2025.
Wachtell, Lipton, Rosen & Katz and Addisons acted as legal advisors and BofA Securities acted as financial advisor to Colgate-Palmolive on the transaction. Gilbert + Tobin acted as legal advisors and Houlihan Lokey acted as financial advisor to Prime100 on the transaction.
About Colgate-Palmolive Company
Colgate-Palmolive Company is a caring, innovative growth company that is reimagining a healthier future for all people, their pets and our planet. Focused on Oral Care, Personal Care, Home Care and Pet Nutrition, we sell our products in more than 200 countries and territories under brands such as Colgate, Palmolive, elmex, hello, meridol, Sorriso, Tom’s of
About Hill's Pet Nutrition
Founded more than 75 years ago with an unwavering commitment to science-led pet nutrition, Hill's Pet Nutrition is on a mission to help enrich and lengthen the special relationships between people and their pets. Hill's is dedicated to pioneering research for dogs and cats using a scientific understanding of their specific dietary needs. As a leading veterinarian recommended pet nutrition brand, knowledge is our first ingredient with 220+ veterinarians, PhD nutritionists and food scientists working to develop breakthrough innovations in pet health. Hill's Prescription Diet therapeutic nutrition plus our everyday wellness product line, Hill's Science Diet, are sold at vet clinics and pet specialty retailers worldwide. For more information about our products and nutritional philosophy, visit HillsPet.com.
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Source: Colgate-Palmolive Company