Zoetis Acquires Platinum Performance to Expand Offerings in Nutrition-Based Pet Healthcare.
M2 EQUITYBITES-July 24, 2019-Zoetis Acquires Platinum Performance to Expand Offerings in Nutrition-Based Pet Healthcare
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24 July 2019 - New Jersey, US-based animal health company Zoetis Inc. (NYSE: ZTS) has agreed to acquire California, US-based animal health company Platinum Performance, offering nutritional product formulas for horses, dogs and cats, the company said.
Financial terms of the transaction are not being disclosed. The transaction is subject to customary closing conditions, including regulatory and anti-trust approvals. Zoetis expects to complete the acquisition in the third quarter. The company does not expect the transaction to have a material financial impact to its guidance for full-year 2019.
The acquisition of Platinum Performance will further strengthen and diversify Zoetis' portfolio in the equine and petcare markets.
With the acquisition of Platinum's premium quality, nutritional formulas, Zoetis is entering this space for horses and building on the company's existing nutritional portfolio for dogs and cats.
The expansion in nutritionals aligns well with Zoetis' increasing focus on health and wellness as part of the continuum of animal care, which spans from prediction and prevention to detection and treatment of disease.
Zoetis is the leading animal health company develops, manufactures and commercialises 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.
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.
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