Zoetis to buy supplement maker Platinum Performance
Founded by a veterinarian, 23-year-old Platinum produces equine, canine and feline lines.
Veterinary drug and vaccine maker Zoetis Inc. intends to grow its animal supplements business through the acquisition of Platinum Performance, a manufacturer of nutritional products for horses, dogs and cats.
The transaction terms were not disclosed, but Zoetis stated that it reached an agreement to purchase Platinum Performance.
Buellton, California-based Platinum Performance, which employs 80 people, would operate as a subsidiary. The company was founded in 1996 by Doug Herthel, DVM, and his son Mark. Among its products are Platinum Performance GI, a wellness and digestive care formula for horses, and Canine Plus, a wellness and joint support formula.
“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,” said Kristin Peck, MBA, a Zoetis executive vice president and group president. “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.”
Mark Herthel, who would continue to serve as Platinum’s president, said his company and Zoetis “share similar values and strengths when it comes to client service, innovative research and high-quality manufacturing, and dedication to the veterinary profession.”
“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,” Herthel said.