Colgate-Palmolive to Buy Three Dry Pet-Food Plants for $700 Million
August 01 2022 - 7:59AM
Dow Jones News
By Colin Kellaher
Colgate-Palmolive Co. on Monday said it will buy three dry
pet-food manufacturing plants for $700 million as part of efforts
by the consumer-products company to support the growth of its
Hill's Pet Nutrition business.
The New York company said it is buying the plants in South
Carolina, Oklahoma and Ohio from privately held Red Collar Pet
Foods and will integrate them into the Hill's supply network to
produce dry food for the Science Diet and Prescription Diet
brands.
About 350 Red Collar employees will join Hill's as part of the
deal.
Hill's, which accounted for 20% of Colgate's second-quarter
sales, is building a canned pet-food manufacturing plant in Kansas
that is slated to begin production next year and in April acquired
a canned pet-food plant in Italy to help meet rising demand.
Red Collar, created in December 2018 when private-equity firm
Arbor Investments acquired Mars Petcare's Exclusive Brands
business, will continue to own and operate its pet-treats business
and facilities.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 01, 2022 07:44 ET (11:44 GMT)
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