Zoetis Inc. has entered into an agreement to acquire Platinum Performance, a privately held, nutrition-focused animal heath company.
Platinum’s flagship equine products include Platinum Performance Equine, a comprehensive wellness and performance formula, and Platinum Performance CJ, which delivers wellness and performance with the addition of joint support ingredients. Its petcare products include Platinum Performance formulations 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 nutritional and wellness solutions that cater to horses, dogs and cats,” says Kristin Peck, executive vice president and group president of U.S. operations, business development and strategy for Zoetis. “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.”
The family-owned business was established in 1996 by Dr. Doug Herthel and his son Mark Herthel, who will continue to lead the new Zoetis business unit as president of Platinum Performance.
“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,” Mark Herthel says. “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.”
Zoetis expects to complete the acquisition in the third quarter. Financial terms of the transaction are not being disclosed.