Platinum’s premium animal food will further strengthen Parsippany-based Zoetis’ portfolio in the equine and pet care markets, it said.
“Zoetis is excited to acquire Platinum Performance and add its high-quality, nutritional products and expertise to our diverse portfolio and team,” Kristin Peck, executive vice president and group president, U.S. operations, business development and strategy for Zoetis, said. “Platinum has become highly regarded in the equine community over the last 20 years for its sophisticated veterinarian-led product development; its commitment to science-backed formulations and research; and its use of high-quality ingredients in manufacturing.”
Platinum’s flagship equine products include Platinum Performance Equine, a wellness and performance formula, and Platinum Performance CJ, a wellness and performance formula with the addition of joint support ingredients. Its pet care products include Platinum Performance formulas that focus on wellness and joint support for dogs and cats.
“With this acquisition, Zoetis gains an innovative leader and premium brand in the market for nutritionals and wellness solutions that cater to horses, dogs and cats. We believe Zoetis will be able to expand the Platinum equine business through our U.S. field force, accelerate the growth of its pet care product formulas with veterinarians and pet owners through our digital marketing capabilities, and evaluate international expansion opportunities over the long term,” Peck said.
Under terms of the deal, Platinum Performance will operate as a wholly-owned subsidiary of Zoetis and continue business operations from its Buellton, California, headquarters. It currently has 80 employees as its facility.
“Zoetis and Platinum share similar values and strengths when it comes to client service, innovative research and high-quality manufacturing and dedication to the veterinary profession,” Platinum Performance President Mark Herthel said. “With our exceptional brand and proven product formulas placed in Zoetis’ commercial model, we should be able to increase the company’s scale with additional global access to veterinarians and pet owners, allowing us to continue to fulfill our family’s vision for the field of scientific wellness in animal care. Zoetis and Platinum are a terrific match, and we are thrilled to be connected to a company with the same mindset.”
The deal is expected to close in the third quarter of this year. Financial terms were not disclosed.