 | |
| Company type | Public |
|---|---|
| |
| Industry | Pet food |
| Founded | 2006 |
| Headquarters | Secaucus, New Jersey, U.S. |
| Products | Refrigerated pet food |
| Revenue |  US$318.79 million (2020) [1] |
| US$-3.19 million [2] (2020) | |
Number of employees | 591 [3] |
| 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. [4] It is listed on the Nasdaq exchange with the ticker symbol FRPT. [5]
Freshpet was founded in Secaucus, New Jersey, in 2006 by Scott Morris, Cathal Walsh, and John Phelps, former pet food executives. [6] [7] It opened a factory in Quakertown, Pennsylvania, in 2006; [8] [9] and another in Bethlehem, Pennsylvania in 2013. [4]
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 offered a grant of $2.1 million from the Texas Enterprise Fund to build a plant in Ennis, Texas. [12] Also
In 2020, the company reported revenue of almost $319 million, an increase of some 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. [1] [2]
Freshpet's cat food and dog food products are marketed as fresh, requiring refrigeration [4] 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 the number 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]
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