PET Food Processing - October 2019 - 36

PROCESSOR PROFILES

FRESHPET

A
FAST FACTS
Founded: 2006
Headquarters:
Secaucus, New Jersey
Manufacturing:
Bethlehem,
Pennsylvania
Brands: Freshpet
Select, Vital, Nature's
Fresh, Homestyle
Creations, DogJoy
Treats, Dognation
Treats and Deli Fresh
Website:
www.freshpet.com

As the market for minimally processed and fresh pet
food options continues to grow incrementally, the
growth of this pet food company has been anything
but incremental. Freshpet is rethinking pet nutrition
with its "fresh from the fridge" philosophy.
The company has maintained double-digit net
sales growth year-over-year since it went public
on NASDAQ in 2014. In its most recent financial
statement, for the three months ended June 30,
2019, Freshpet reported $60.1 million in net sales.
Additionally, the fresh pet food manufacturer grew
its earnings by more than 39% between the first
quarter of 2018 and the second quarter of 2019.
Freshpet produces seven brands of pet food, all
of which are formulated with US-raised meats and
whole fruits and vegetables that are gently steamcooked to maximize nutrient availability. To keep
things fresh, meat ingredients are delivered to
Freshpet's kitchen daily, according to John Speranza,
vice president of marketing for the company.
Freshpet's nutritional philosophy is centered
around using the best, all-natural, local, preservative-free and whole ingredients available, all of
which are sourced within 200 miles of its production facility in Bethlehem, Pennsylvania. Cooking

PET FOOD PROCESSING | 2019 | www.petfoodprocessing.net

those ingredients with steam at low-temperatures
means nutrients and micronutrients have not been
lost through processing and can be easily absorbed
by the pet. The company does not add preservatives,
and although the pet foods must be kept at a certain
temperature and have a shorter shelf life than dry
kibble diets, the company believes that the nutritional benefits are worth these limitations.
This fresh pet food company has a unique retail
model. Because minimally processed pet foods need
to be refrigerated or frozen in order to prevent the

"It's really simple: use fresh,
whole ingredients, gently
cooked without preservatives,
and kept in the fridge
where meats belong."
John Speranza, vice president
of marketing, Freshpet

bacterial growth and cross-contamination, Freshpet
installs a branded refrigerator into each store in
which its brands are sold. This creates valuable, guaranteed real estate in brick-and-mortar retail stores,
and ensures the product remains safe after it is distributed to those locations. The company is in the
process of upgrading those fridges, as well as adding
second fridges to existing retail locations to expand
shelf capacity. As of May 2019, the company's instore fridge count was just over 20,000.
Freshpet has invested heavily in growing its brand
awareness, household penetration and buying rate
over the years. The company invested 11% of its annual revenue in into advertising campaigns in 2019,
for example.
In June 2019, Freshpet held a groundbreaking
ceremony at the site of its second production center,
which is expected to be fully operational by 2020.
The 90,000-sq.-ft. kitchen will increase the company's capacity as it continues to "feed the growth."

http://www.freshpet.com http://www.petfoodprocessing.net

PET Food Processing - October 2019

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