PetIQ, Inc. Closes Acquisition of Capstar Portfolio of Products
Accretive, Strategic Transaction Adds High-margin Sales and Enhances Product Manufacturing
EAGLE, Idaho, Aug. 03, 2020 (GLOBE NEWSWIRE) -- PetIQ, Inc. (“PetIQ” or the “Company”) (Nasdaq: PETQ), a leading pet medication and wellness company today announced the closing of the acquisition
of the Capstar portfolio of products, effective July 31, 2020. Capstar is the #1 oral over-the-counter (“OTC”) flea treatment product in the United States.
“We are excited to complete this transaction and believe Capstar’s highly profitable product offering fits perfectly with PetIQ’s product offerings. This further advances our leadership position in helping pet parents find affordable animal health products for their pets,” stated Cord Christensen, PetIQ’s Chairman and CEO. “In a dynamic operating environment, we are very pleased that Capstar has generated strong results year to date, increasing our confidence in its accretive growth opportunities and long-term value creation.”
The Capstar portfolio is comprised of seven SKUs, including three private label SKUs which are sold under the Capaction brand. Capstar is an oral tablet for the treatment of flea infestations on dogs, puppies, cats and kittens and is currently the best-selling oral OTC flea treatment product in the United States. Additionally, Capstar is the only oral OTC product for cats in the market today.
PetIQ is a leading pet medication and wellness company delivering a smarter way for pet parents to help their pets live their best lives through convenient access to affordable veterinary products and services. The company engages with customers through more than 60,000 points of distribution across retail and e-commerce channels with its branded distributed medications, which is further supported by its own world-class medications manufacturing facility in Omaha, Nebraska. The company’s national service platform, VIP Petcare, operates in over 3,400 retail partner locations in 41 states providing cost effective and convenient veterinary wellness services. PetIQ believes that pets are an important part of the family and deserve the best products and care we can give them. For more information, visit www.PetIQ.com.