Addisons was delighted to act with Wachtell, Lipton, Rosen & Katz as Australian and US legal advisors respectively for Colgate-Palmolive Company in its acquisition of the Prime100 premium pet food branded business, which completed today.
The Prime100 brand is Australia’s fastest growing fresh pet food brand, with a growing presence in the US as well.
Colgate-Palmolive’s highly strategic acquisition gives it a veterinarian-endorsed, premium branded fresh product range to complement its established and highly respected premium product range sold under the Hill’s Science Diet and Hill’s Prescription Diet brands.
Addisons mobilised a cross-functional team from its corporate, regulatory, tax, employment, property, and environment divisions to complete due diligence at speed and then a core team of Partners Laura Hartley, Dale Chapman and Angelika Yates, Special Counsel Robert Dooley and Solicitor Jason Zhang, who took the deal through the purchase agreement negotiations and the regulatory approval process to closing.
Addisons’ relationship partner for Colgate-Palmolive, Laura Hartley said, “Colgate-Palmolive is a highly focussed acquirer, and will only make significant investments if the strategic fit is absolutely right. Then, it’s all on. We were delighted to help them realise their vision to invest in faster-growing product segments adjacent to their core categories with this acquisition of Prime100.”