Zoetis Purchases Assets From Advanced Food Technologies Ilc for Food Safety and Animal Care Products
Acquisition broadens animal health solutions portfolio and adds complementary food safety offerings for Zoetis
FLORHAM PARK, N.J. — Oct. 21, 2013 — Zoetis Inc. (NYSE: ZTS), a former business unit of Pfizer, today announced the completion of an agreement to purchase substantially all of the assets of Advanced Food Technologies LLC, a company that provides innovative food safety and animal care products to meat and poultry processing customers. The acquisition will allow Zoetis to integrate Advanced Food Technologies’ products into its existing business and enter into a complementary space where it has not competed before in the food safety sector. Financial terms of the agreement were not disclosed.
Advanced Food Technologies (AFT) is a privately owned, specialty chemical company for food processors. It provides post-harvest, food safety solutions and services in meat and poultry processing, along with offering hoof care products for the dairy industry. This acquisition adds new technology to the Zoetis portfolio of vaccines, medicines, diagnostics and genetics, and it underscores the company’s commitment to helping its customers ensure a safe, sustainable food supply.
“This acquisition is a great addition to the diverse portfolio of products and services that we use to support our customers,” said Clint Lewis, executive vice president and U.S. president for Zoetis. “Zoetis has a long proven history of delivering innovative products for the production of healthy farm animals. With AFT’s products, we will now provide proven food safety technologies in processing facilities for use after these animals are harvested.”
“We are excited for the opportunity to leverage Zoetis’ scale and reputation to further the reach and impact that the AFT products can have on the quality and safety of meat and poultry for consumers,” said Denny Smithyman, president of Advanced Food Technologies.
With this acquisition, Zoetis now adds trusted brands such as Aftec 3000 (buffered hydrogen sulfate) and Hoof-Tec Complete® to its portfolio. These products will allow Zoetis to provide greater support and solutions for meat processors and animal health customers.
Along with offering new products, Zoetis also will extend its service offerings for the food safety industry. New services include chemical dosing systems and application equipment designed to ensure maximum effectiveness and ease of use; training and hazard analysis and critical control points (HACCP) support for operators; quality assurance workers and maintenance personnel trained at start up; and integrated plant-wide food safety solutions for meat and poultry plants.
“As always, our customers can expect to benefit from the skill and expertise of our field teams; our variety of programs and services; our commitment to the research and development of new and innovative products; and our enduring support to help our customers achieve greater business productivity and long-term success,” Lewis said.
As Zoetis begins the integration process, its highest priority is to maintain its commitment to customers and ensure uninterrupted service.
Zoetis (zō-EH-tis) is the leading animal health company, dedicated to supporting its customers and their businesses. Building on a 60-year history as the animal health business of Pfizer, Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines, complemented by diagnostic products and genetic tests and supported by a range of services. In 2012, the company generated annual revenues of $4.3 billion. With approximately 9,300 employees worldwide at the beginning of 2013, Zoetis has a local presence in approximately 70 countries, including 29 manufacturing facilities in 11 countries. Its products serve veterinarians, livestock producers and people who raise and care for farm and companion animals in 120 countries. For more information on the company, visit zoetisUS.com.
Zoetis is the proud sponsor with the Smithsonian Institution Traveling Exhibition Service and the American Veterinary Medical Association of the mobile educational exhibit Animal Connections: Our Journey Together. Families visiting the exhibit will explore the vast bonds between people and animals and learn about the important role veterinarians play in protecting animal and human health.
About Advanced Food Technologies
Founded in 2008 by a team of experienced industry professionals, Advanced Food Technologies LLC (AFT) is a specialty chemical company for food processors that focuses on antimicrobial applications for poultry and meat processing. Headquartered in Shreveport, La., AFT has nine employees selling its products and systems in numerous beef, veal, swine, lamb and poultry operations throughout the country. For more information on Advanced Food Technologies, visit advfoodtech.com.
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Forward-Looking Statements: This press release contains forward-looking statements, which reflect Zoetis's current views with respect to business plans or prospects, future operating or financial performance, and other future events. These statements are not guarantees of future performance. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2012, including in the sections thereof captioned “Forward-Looking Information and Factors That May Affect Future Results” and “Item 1A. Risk Factors,” in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.
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