Joint-venture petfood deal gives Unicharm stake in Hartz
Sumitomo, Unicharm closed deal for Unicharm to receive stake in common share of Hartz Mountain Corportation
Sumitomo Corp., Sumitomo Corp. of America and Japanese petfood manufacturer Unicharm closed a joint-venture deal on December 30, 2011. The deal gives Unicharm a significant stake in the common share of small animal food and pet treats manufacturer Hartz Mountain Corp., a wholly owned subsidiary of Sumitomo Corp.
"This new strategic partnership brings together the brand power, deep category expertise and existing market share of Hartz with Unicharm's proprietary technology and high-performing innovation," said Mr. Koichi Isohata, a representative at Sumitomo. "The alliance is intended to grow the Hartz business, maximizing the potential of the US pet care market and ideally build the business globally."