Enhances Accomplishment Capabilities to Support Approaching Growth
EAGLE, Idaho, Oct. 17, 2018 (GLOBE NEWSWIRE) — PetIQ, Inc. (“PetIQ” or the “Company”) (Nasdaq: PETQ), a arch pet medication and wellness company, today appear it has completed the cardinal accretion of HBH Enterprises LLC (“HBH”), with HBH acceptable a wholly-owned accessory of PetIQ. The application for the accretion consisted of $0.5 actor in cash, the arising of 400,000 shares of PetIQ Class B accepted banal and the claim of assertive HBH debt.
HBH, amid in Springville, Utah, is an avant-garde developer and architect of specialty pet supplements and treats. Founded in 1988, HBH has acquired into a awful approved afterwards consultant, artistic accomplice and artefact developer to the pet industry. PetIQ has been utilizing HBH’s accomplishment adeptness back 2012, including aural PetIQ’s Springville, Utah assembly adeptness back 2014, for its OTC accessible articles aural the bloom and wellness and treats artefact categories.
Cord Christensen, PetIQ’s Chairman and Chief Executive Officer commented, “We are aflame to acceptable HBH to the PetIQ aggregation afterwards alive calm for several years aural our Springville assembly facility. This different affiliation has authentic to be an important aspect of our success in bringing pet bloom and wellness solutions to our customers. The accretion of HBH provides PetIQ with complete cardinal ascendancy of our accomplishment alignment and we accept this bigger business anatomy will accredit us to advance advance in this important category.”
PetIQ does not apprehend the transaction to accept a absolute appulse on the fourth division of 2018 net sales and advantage and appropriately it is not afterlight abounding year 2018 guidance. The Aggregation expects the transaction to be accretive in 2019. PetIQ expects to address third division 2018 balance after-effects on November 13, 2018.
PetIQ is a leading, rapidly growing pet bloom and wellness company. Through over 60,000 credibility of administration beyond retail and e-commerce channels, PetIQ and VIP Petcare, a wholly endemic subsidiary, accept a mission to accomplish pet lives bigger by educating pet parents on the accent of alms regular, acceptable admission and affordable choices for pet antitoxin and wellness veterinary articles and services. PetIQ believes that pets are an important allotment of the ancestors and deserve the best articles and affliction we can accord them.
Forward Looking Statements
This columnist absolution contains advanced statements that absorb risks and uncertainties, such as statements about our plans, objectives, expectations, assumptions or approaching events, including the abeyant allowances and synergies of the acquisition. In some cases, you can analyze advanced statements by analogue such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “believe,” “intend,” “may,” “will,” “should,” “could” and agnate expressions. Advanced statements absorb estimates, assumptions, accepted and alien risks, uncertainties and added factors that could account absolute after-effects to alter materially from any approaching results, performances, or achievements bidding or adumbrated by the advanced statements. Advanced statements should not be apprehend as a agreement of approaching achievement or results, and will not necessarily be authentic break of the times at, or by, which such achievement or after-effects will be achieved. Advanced statements are based on advice accessible at the time those statements are fabricated or management’s acceptable acceptance acceptance as of that time with account to approaching events, and are accountable to risks and uncertainties that could account absolute achievement or after-effects to alter materially from those bidding in or appropriate by the advanced statements. Important factors that could account such differences include, but are not bound to, our adeptness to abound our business through acquisitions; our adeptness to integrate, administer and aggrandize VIP Petcare’s business; our annex on a bound cardinal of customers; our adeptness to apparatus our advance action effectively; our adeptness to accomplish or sustain profitability; our adeptness to accessible retail clinics and wellness centers, abortion to finer assassinate on our casework articulation account plans; antagonism from veterinarians and others in our industry; reputational accident to our brands; bread-and-er trends and spending on pets; the capability of our business and barter advance programs; recalls or withdrawals of our articles or artefact accountability claims; our adeptness to administer our accomplishment and accumulation alternation effectively; disruptions in our accomplishment and administration chains; our adeptness to acquaint new articles and advance absolute products; our abortion to assure our bookish property; costs associated with authoritative regulation; risks accompanying to our all-embracing operations; our adeptness to accumulate and absorb key employees; and the risks set alternating beneath the “Risk Factors” of our Annual Address on Form 10-K for the year ended December 31, 2017 and annual address on Form 10-Q for the aeon ended March 31, 2018.
Additional risks and uncertainties not currently accepted to us or that we currently account to be immaterial additionally may materially abnormally affect our business, banking action or operating results. The advanced statements allege alone as of the date on which they are made, and, except as appropriate by law, we undertake no obligation to amend any advanced account to reflect contest or affairs afterwards the date on which the account is fabricated or to reflect the accident of hasty events. In addition, we cannot appraise the appulse of anniversary agency on our business or the admeasurement to which any factor, or aggregate of factors, may account absolute after-effects to alter materially from those independent in any advanced statements. Consequently, you should not abode disproportionate assurance on advanced statements.
CONTACTInvestor Relations Contact:ICRKatie [email protected]
Media Relations Contact:Cory [email protected]
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