ITALY—As part of its strategy to “meet untapped demand” for wet pet food formulations in Europe, Hill’s Pet Nutrition announced its acquisition of certain manufacturing assets of Nutriamo, a wet pet food manufacturing business based in Italy.
Hill’s Pet Nutrition President and CEO John Hazlin said that they intend to move quickly to increase their canned food processing capacity, stating that their volume will grow over time as they are able to manufacture more of their products in the facility.
“This acquisition represents an important step in our global supply chain strategy to continue meeting the growing demand by pet parents for our science-based nutrition,” Hazlin added.
Hill’s is dedicated to pioneering research for dogs and cats using a scientific understanding of their specific needs.
“While the pet food category is obviously benefiting from underlying trends like the humanization of pets and premiumization, we believe it is also continuing to swing back toward science and expertise, and Hill’s is perfectly positioned to take advantage of this trend,” said the chairman, president and chief executive officer of the company, Noel Wallace.
Hill’s Pet Nutrition is a subsidiary of Colgate-Palmolive. In 2020, Hill’s annual revenue reached US$2.5 billion and currently, it accounts for 20% of its parent company’s total revenue.
Total net sales for Colgate-Palmolive in the first quarter totaled US$4.40 billion, up 1.5% year-over-year. Gross profit was US$1.83 billion, up 9.7% from year-ago profit. Overall operating profit decreased 14.3% to US$860 million.
The company reaffirmed its full-year 2022 guidance, expecting net sales growth on the higher end of its previous 1% to 4% range, organic sales growth between 4% and 6%, and a decline in gross profit margin.
“As we look around the world, there is still much uncertainty stemming from the COVID-19 pandemic, supply chain disruptions, the war in Ukraine and volatility in consumer demand and currencies,” Wallace said.
“Despite this environment, we are encouraged by our growth momentum and the strength of our innovation, which add to our confidence that we have the right strategies in place to continue to deliver sustainable, profitable growth over the long term.”
Hill’s Pet Nutrition sells more than 300 products, principally through authorized pet supply retailers and veterinarians in more than 80 countries worldwide.
Hill’s operates major manufacturing and warehousing facilities in the US, Czech Republic, Netherlands and now, Italy as well.
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