Colgate-Palmolive Set to Acquire Prime100 Pet Food

The Colgate-Palmolive company has agreed to acquire Care TopCo, owner of the Australian Prime100 pet food brand – investing in an adjacent faster-growing product segment to Colgate-Palmolive’s core pet food categories as part of its growth strategy. According to the Australian Financial Review, the deal valued the business at almost $500 million.

Based in Melbourne, Australia, Prime100 is a fresh pet food brand offering both refrigerated and shelf stable products, sold to pet specialty and other retailers in Australia. Launched in 2014, Prime100 is a leading fresh pet food brand in Australia, with science-backed product lines and veterinary endorsemement

It is also a packaging leader, rolling out its premium dog food product line in Tetra Pak’s shelf stable Tetra Recart packaging system in 2023.

Australia has one of the highest levels of pet ownership in the world, with Australians spending an estimated $33 billion on pet services and products annually. According to Mordor Intelligence, the Australian pet food sector is valued at $6 billion, with a CAGR of four per cent.

This will be Colgate-Palmolive’s first fresh pet food brand, and will be managed under its Hill’s Pet Nutrition division, complementing its science-led, veterinarian-endorsed specialty pet food diets and strengthening its presence in the Australian pet food market.