Zoetis Completes Acquisition of Platinum Performance, a Leading Nutrition-Focused Animal Health Business
August 14 2019 - 8:30AM
Business Wire
Zoetis Inc. (NYSE: ZTS) today announced the completion of the
acquisition of Platinum Performance, a privately-held
nutrition-focused animal heath company, after fulfilling all
closing requirements. The acquisition was first announced on July
22 and financial terms of the transaction are not being
disclosed.
“We are pleased to welcome the Platinum Performance team to
Zoetis and together expand on the success of their high-quality,
nutritional product formulas for horses, dogs and cats,” said
Kristin Peck, Executive Vice President and Group President, U.S.
Operations, Business Development and Strategy for Zoetis. “We look
forward to coupling the expertise of Platinum’s colleagues and
strength of the brand in the equine community with Zoetis’ global
scale, resources and capabilities to drive increased focus on
health and wellness as part of the continuum of animal care.”
Platinum Performance was established in 1996 by Dr. Doug
Herthel, DVM, and his son Mark Herthel, who will continue to lead
the new Zoetis business as President of Platinum Performance.
Platinum Performance will operate as a wholly owned subsidiary of
Zoetis, and continue doing business from its Buellton, Calif.,
headquarters.
About Zoetis
Zoetis is the leading animal health company, dedicated to
supporting its customers and their businesses. Building on more
than 65 years of experience in animal health, Zoetis discovers,
develops, manufactures and commercializes medicines, vaccines and
diagnostic products, which are complemented by biodevices, genetic
tests and a range of services. Zoetis serves veterinarians,
livestock producers and people who raise and care for farm and
companion animals with sales of its products in more than 100
countries. In 2018, the company generated annual revenue of $5.8
billion with approximately 10,000 employees. For more information,
visit www.zoetis.com.
About Platinum Performance
Platinum Performance was co-founded in 1996 by renowned equine
veterinarian and surgeon, Dr. Doug Herthel, and President Mark
Herthel. From its earliest days, the company has held a strong
commitment to veterinarians and the highest respect for their role
in guiding the health, wellness and performance of the horse.
Platinum Performance develops, manufactures and markets a broad
range of premium nutritional product formulas for horses as well as
a smaller range of petcare brands and human supplements. For more
information, visit www.platinumperformance.com.
Forward-Looking Information
This press release contains forward-looking statements, which
reflect the current views of Zoetis with respect to business plans
or prospects, future operating or financial performance, future
guidance, future operating models, expectations regarding products,
expectations regarding the performance of acquired companies and
our ability to integrate new businesses, expectations regarding the
financial impact of acquisitions, future use of cash and dividend
payments, tax
rate and tax regimes, changes in the tax regimes and laws in
other jurisdictions, and other future events.
These statements are not guarantees of future performance or
actions. Forward-looking statements are subject to risks and
uncertainties. If one or more of these risks or uncertainties
materialize, or if management's underlying assumptions prove to be
incorrect, actual results may differ materially from those
contemplated by a forward-looking statement. Forward-looking
statements speak only as of the date on which they are made. Zoetis
expressly disclaims any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. A further list and description of
risks, uncertainties and other matters can be found in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2018,
including in the sections thereof captioned “Forward-Looking
Statements and Factors That May Affect Future Results” and “Item
1A. Risk Factors,” in our Quarterly Reports on Form 10-Q and in our
Current Reports on Form 8-K. These filings and subsequent filings
are available online at www.sec.gov, www.zoetis.com, or on request
from Zoetis.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190814005105/en/
Media: Bill Price 1-973-443-2742
(o) william.price@zoetis.com Investors: Steve Frank 1-973-822-7141 (o)
steve.frank@zoetis.com Morgan Halme 1-800-553-2400 ext. 169 (o)
mhalme@platinumperformance.com
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