FMCG giant Colgate-Palmolive has announced plans to acquire three dry pet food manufacturing plants in the US from Red Collar Pet Foods for $700 million.
According to Colgate-Palmolive, the acquisition aims to support the global growth of its Hill’s Pet Nutrition business and includes the transfer of approximately 350 employees.
The manufacturing plants – in Orangeburg (SC), Clinton (OK), and Washington Court House (OH) – will be part of Hill’s Pet Nutrition’s global supply network, producing dry pet food for the Science Diet and Prescription Diet brands. Red Collar Pet Foods will continue managing the dry pet food private label business for a transition period and will continue to own and operate its pet treats business and facilities, Colgate-Palmolive said.
Noel Wallace, chairman, president, and CEO of Colgate-Palmolive, said: “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”.
The acquisition is subject to regulatory approval and other closing conditions.