By Stephen Nakrosis
Colgate-Palmolive said it has agreed to acquire Care TopCo Pty, owner of the Prime100 pet food brand, to strengthen its presence in the Australian market.
The deal will be financed with a combination of debt and cash and is expected to close in the second quarter. Colgate-Palmolive said the transaction isn't expected to have a material impact on diluted earnings per share this year.
Prime100, which was launched in 2014, offers both refrigerated and shelf stable products to pet specialty and other retailers. The company is based in Melbourne.
Prime 100 will become part of the Hill's Pet Nutrition division, Colgate-Palmolive said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
February 18, 2025 17:33 ET (22:33 GMT)
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