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FMCG giant Colgate-Palmolive has announced it has acquired Care TopCo, the owner of the Prime100 pet food brand, from private equity fund Quadrant PE for A$500 million ($317.5 million).
Founded in 2014 in Melbourne, Prime100 offers both refrigerated and shelf‐stable products to pet speciality and other retailers across Australia, focusing on science‐based product lines and veterinary endorsement. Post acquisition, it will form part of Colgate-Palmolive’s Hill’s Pet Nutrition division.
Commenting on the move, Colgate-Palmolive chairman, president and chief executive officer Noel Wallace said: “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”.
Hill’s Pet Nutrition president John Hazlin added: “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 is expected to close in the second quarter of 2025 subject to regulatory approval, and includes the transfer of approximately 350 employees.
Source: Colgate-Palmolive / Quadrant PE
