Petco and JustFoodForDogs plan new private label formula, more for 2022
Petco has announced the expansion of its exclusive retailer partnership with JustFoodForDogs. The two companies will co-develop a new human-grade fresh and frozen private label pet food formula for Petco’s WholeHearted line expected later this year.
Currently available in approximately 700 Petco locations nationwide, JustFoodForDogs offerings will expand to more than 1,000 Petco pet care centers by the end of 2022. With the expanded partnership and exclusivity deal, Petco will continue to be the only national brick-and-mortar retailer to offer JustFoodForDogs products in retail stores and online until at least 2024. The companies also plan to jointly invest in new marketing programs and the expanded pet care center presence to support the deepening relationship and fast-growing category.
The move follows Petco’s partnership with Canidae to unveil dog food refill stations exclusive to the retailer. Petco’s expansion efforts were featured in the latest print issue of Store Brands Magazine.
"Pet parents are rapidly shifting feeding to the fresh frozen category, which is predicted to grow from $1 billion to approximately $4 billion by 2025, and 92% of it is selling through physical retail today," said Ron Coughlin, CEO of Petco. "Expanding our relationship with JustFoodForDogs ensures Petco's continued leadership in the category and reinforces our unmatched commitment to pet health and wellness. Broadly, we offer pet parents the fastest and most convenient access to fresh, human-grade food in the industry, whether purchased on petco.com and delivered same-day to their doorstep or picked up at a Petco pet care center.”
In addition to the collaborative own brand food formula, Petco will receive a warrant for JustFoodForDogs equity tied to the successful execution of the parties' 2022 plan, and will have the opportunity to acquire additional equity over time. Both companies have agreed on mutually beneficial structures should either Petco desire to add certain new fresh frozen brands to its assortment or JustFoodForDogs desire to add additional online distribution to its omnichannel offering. The two companies began their partnership in 2018.
"Petco's commitment to health and wellness, as well as setting a higher standard for pet nutrition, are in perfect alignment with JustFoodForDogs' values and mission," said Julian Mack, CEO of JustFoodForDogs. "We want every dog to live its longest and best life possible through the transformational power of fresh food, backed by science. Pet parents value both the expert nutritional counsel they receive in store at Petco as well as the convenience of Petco's store locations and delivery options. Our partnership with Petco has been a fantastic collaboration to date, and we now look forward to deepening this partnership further to help even more dogs thrive from the health benefits of fresh food."