Freshpet
| File:Freshpet logo.svg | |
| Company type | Public |
|---|---|
| |
| Industry | Pet food |
| Founded | 2006 |
| Headquarters | Bedminster, New Jersey, U.S. |
Key people | Billy Cyr (CEO)[1] |
| Products | Refrigerated pet food |
| Revenue |  US$318.79 million (2020)[2] |
| US$-3.19 million[3] (2020) | |
Number of employees | 591[4] |
| Website | freshpet |
Freshpet, Inc. is an American pet food company. Its cat food and dog food products are marketed as fresh and need to be kept refrigerated.[5] It is listed on the Nasdaq exchange with the ticker symbol FRPT.[6]
History
[edit | edit source]Freshpet was founded in Secaucus, New Jersey, in 2006 by Scott Morris, Cathal Walsh, and John Phelps, former pet food executives.[7][8] It opened a factory in Quakertown, Pennsylvania, in 2006[9] and another in Bethlehem, Pennsylvania in 2013.[5] Freshpet went public on the NASDAQ in November 2014, raising $164 million in its IPO[10][11] with a market capitalization of $447 million.[11]
In February 2020, the company was given a grant of $2.1 million by the Texas Enterprise Fund to build a plant in Ennis, Texas south of Dallas.[12] In 2020, the company reported revenue of almost $319 million, an increase of about 30% and a net income loss of $3.19 million, up 130% on the previous year. It also reported losses in the four preceding years.[2][3] In 2024, the company moved its headquarters to Bedminster, New Jersey.
Products
[edit | edit source]Freshpet's cat food and dog food products are marketed as fresh, requiring refrigeration[5] since the company's products have no preservatives.[13] Freshpet was the first to distribute pet food in the fresh and refrigerated category across North America. After a 2007 crisis of wet and dried dog food tainted by melamine, Freshpet's uncontaminated fresh food products experienced rapid growth in many of stores carrying them.[14][15]
As of 2021, the company's pet-food brands include Freshpet, Dog Joy, DogNation, Spring & Sprout,[16] Vital, Homestyle Creations, and Nature's Fresh.[17]
References
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- ^ a b "Freshpet Inc.: Financials". The Wall Street Journal. New York: Dow Jones & Company. Accessed December 2021.
- ^ a b "Freshpet Inc.". Barron's. Accessed December 2021.
- ^ "Freshpet Inc.: Overview". The Wall Street Journal. New York: Dow Jones & Company. Accessed December 2021.
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Further reading
[edit | edit source]- NJ.com, "Paw Print: Pet food company steps up to the plate"
- South Charlotte Weekly, "Culinary Corner: Canine Cuisine" references Dog Joy cookies for dogs (Archived)
External links
[edit | edit source]- Official website
- Business data for Freshpet, Inc.:
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