Colgate-Palmolive Acquires Prime100 to Strengthen Hill’s Pet Nutrition Division

In an exciting move to expand its pet nutrition portfolio, Colgate-Palmolive has announced the acquisition of Care TopCo, the parent company of Australia’s popular pet food brand, Prime100. This strategic purchase is set to boost Colgate-Palmolive’s Hill’s Pet Nutrition division, further solidifying its position in the growing pet care market.

Expanding Hill’s Pet Nutrition Portfolio

Prime100, founded in 2014 and headquartered in Melbourne, has earned a strong reputation in the Australian pet food market for its science-backed and veterinarian-endorsed products. Known for both refrigerated and shelf-stable offerings, Prime100's products are sold across pet specialty stores and other retailers in Australia. With a focus on fresh, nutritious, and high-quality dog food, the acquisition aligns well with Colgate-Palmolive's long-term growth strategy for pet nutrition.

Noel Wallace, Colgate-Palmolive's Chairman, President, and CEO, commented on the strategic fit:
"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."

Prime100's Success and Market Impact

Prime100 has quickly become a household name in the pet food industry, generating around $100 million in annual revenue and $25 million in earnings before interest, taxes, depreciation, and amortisation (EBITDA). This acquisition strengthens Colgate’s Hill’s Pet Nutrition division with the addition of a fresh dog food line that has proven to be profitable and highly regarded by pet owners.

The deal is also expected to allow Colgate to broaden Prime100's distribution channels, increasing awareness and availability of the brand not just in Australia but potentially in other global markets.

Strategic Acquisition to Drive Growth

This acquisition reflects Colgate-Palmolive's ongoing commitment to the rapidly growing pet care market, which has seen a surge in demand as more pet owners prioritize high-quality nutrition for their animals. The Prime100 brand fits seamlessly into Hill’s Pet Nutrition’s existing portfolio, which includes a range of premium dog and cat foods sold through major retailers such as PetO, Petbarn, and Pet Circle.

Colgate’s global reach—operating in more than 200 countries and territories under well-known brands like Colgate, Palmolive, Protex, and Sanex—will be a key asset in driving Prime100's growth and visibility across new markets.

The Deal’s Financial Details

According to the Australian Financial Review, Colgate-Palmolive is acquiring Prime100 from Quadrant Private Equity, which has held a 55% stake in the brand since 2021. The transaction, estimated to close in the second quarter of this year, will be financed through a combination of debt and cash. Colgate also noted that the deal is not expected to have a material impact on diluted earnings per share for this fiscal year.

Looking Ahead

As Colgate-Palmolive strengthens its foothold in the global pet food industry, the acquisition of Prime100 represents a significant step in expanding the Hill’s Pet Nutrition division. With an emphasis on fresh and scientifically formulated pet food, Colgate is poised to drive continued growth in a market that shows no signs of slowing down.

For pet owners and industry professionals alike, this acquisition signifies the continued evolution of the pet care space, where innovation, nutrition, and quality products will remain at the forefront.