- Petco and industry pioneer JustFoodForDogs co-developed new
WholeHearted Fresh Recipes
- Fresh and frozen pet food category is set to grow to
$4 billion by 2025
- Pet humanization trend being driven by Millennial and Gen Z
pet parents
SAN DIEGO, Aug. 24, 2022 /PRNewswire/ -- Committed to
making better pet nutrition more accessible, Petco Health and
Wellness Company, Inc. (Nasdaq: WOOF) today announced the launch of
a WholeHearted Fresh Recipes line offering frozen nutrition for
dogs. Petco's continued investment in artificial-free* pet
nutrition is in direct response to strong growth in pet parent
demand for high-quality, minimally processed pet food.
"Pet parents are driving one of the biggest trends the pet
industry has seen as they increasingly seek out fresh, human-grade
food for all members of the family," said Petco CEO Ron Coughlin. "Led by Millennial and Gen Z pet
parents who are hyper focused on their pets' health and wellness,
we're seeing the premiumization and pet humanization trends
continue to grow. WholeHearted Fresh Recipes will help meet this
demand toward high-quality food, while playing a key role in
Petco's leadership in the fresh and frozen space that is expected
to grow to $4 billion by 2025."
Co-developed with JustFoodForDogs, a fresh and frozen pet food
pioneer brand and long-standing Petco vendor, the new line of
WholeHearted Fresh Recipes is comprised of human-grade ingredients
and formulated under veterinary guidance. In accordance with
WholeHearted's Whole Pet Nutrition philosophy — offering an
assortment of products to help support pets' ideal weight, urinary
and gut health, joint support, and skin and coat protection —
Petco's new WholeHearted Fresh Recipes line contributes to a dog's
ideal weight and gut health. The meals, which include chicken and
vegetables, beef and vegetables, and fish and vegetables, begin at
just $6.79.
"With many pet parents already focused on supporting their pets'
whole health by feeding them high-quality nutrition, plus the great
success of our private-label pet food brand, WholeHearted, we saw a
clear opportunity to invest in helping families bridge the gap
between fresh, human-grade pet food recipes crafted under the
guidance of veterinarians and an uncompromised, affordable price,"
said Petco Chief Merchandising Officer Amy
College. "We're thrilled to help more pet parents give their
pets' bowl a real boost, especially during this time."
Even in the current macro-economic environment, pet food and
treats — including the fresh and frozen nutrition segment — remain
a strong staple with no significant signs of pet parents trading
down. In fact, customer trends show once families find the
nutrition that works for their pets' needs, they typically become
loyal to that brand or product.**
"We're thrilled to be taking our partnership with Petco to new
heights with WholeHearted Fresh Recipes, said Julian Mack, CEO of JustFoodForDogs. "We want
every dog to live a healthy, active life, and experience the power
of food backed by science — our partnership with Petco plays a key
role in this mission."
Insights show more than 90% of JustFoodForDogs buyers at Petco
purchase through Petco pet care centers+, and fresh and frozen pet
nutrition customers make more frequent trips to Petco and buy more.
With Petco's infrastructure well-suited to support demand for fresh
and frozen pet nutrition, WholeHearted Fresh Recipes will be
available in frozen form at most Petco pet care centers in early
September — with refrigerated options planned for the future. Pet
parents will have access to fast and convenient access to the
frozen food through petco.com and the Petco app, including same-day
delivery, and buy online, pickup in store. Petco will continue to
be the exclusive, national brick-and-mortar retailer to offer
JustFoodForDogs.
By leaning into more than 55 years of pet nutrition expertise
and partnering with leading veterinarians and pet nutritionists,
Petco crafted and introduced WholeHearted recipes that exceed
Petco's nutrition standards in 2016. WholeHearted's offer of
high-quality nutrition at an affordable price quickly became a key
differentiator and success driver for the private-label brand.
*See how Petco defines artificial ingredients at
petco.com/nutritionstandards.
**Source: 2022 and 2021 Petco consumer surveys of more than
1,000 U.S. pet parents.
+Source: Petco internal customer data.
About Petco, The Health + Wellness Co.:
Founded in
1965, Petco is a category-defining health and wellness company
focused on improving the lives of pets, pet parents and our own
Petco partners. We've consistently set new standards in pet care
while delivering comprehensive pet wellness products, services and
solutions, and creating communities that deepen the pet-pet parent
bond. We operate more than 1,500 pet care centers across the U.S.,
Mexico and Puerto Rico, which offer merchandise,
companion animals, grooming, training and a growing network of
on-site veterinary hospitals and mobile veterinary clinics. Our
complete pet health and wellness ecosystem is accessible through
our pet care centers and digitally at petco.com and on the Petco
app. In tandem with Petco Love (formerly the Petco
Foundation), an independent nonprofit organization, we work with
and support thousands of local animal welfare groups across the
country and, through in-store adoption events, we've helped find
homes for more than 6.5 million animals.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, concerning expectations, beliefs, plans,
objectives, goals, strategies, future events or performance and
underlying assumptions and other statements that are other than
statements of historical fact. Although Petco believes that the
expectations and assumptions reflected in these statements are
reasonable, there can be no assurance that these expectations will
prove to be correct. Forward-looking statements are subject to many
risks and uncertainties, including the risk factors that Petco
identifies in its Securities and Exchange Commission filings, and
actual results may differ materially from the results discussed in
such forward-looking statements. Petco undertakes no duty to update
publicly any forward-looking statement that it may make, whether as
a result of new information, future events or otherwise, except as
may be required by applicable law, regulation or other competent
legal authority.
Media Contact:
Ventura
Olvera
ventura.olvera@petco.com
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SOURCE Petco Health and Wellness Company, Inc.