Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, November 24, 2023

Article Excerpt

FRESHPET INC., $69.30, symbol FRPT on Nasdaq, makes fresh, natural food for dogs and cats. The company’s foods are blends of fresh meats, vegetables and fruits farmed locally and made at its Freshpet Kitchens. Freshpet uses natural ingredients, cooking them in small batches at lower temperatures to preserve their natural goodness. The company sells its products to grocery stores, mass merchants, warehouse stores, specialty pet and natural food stores in the U.S., Canada, and Europe. Freshpet foods and treats are kept refrigerated from when they are made until they arrive at Freshpet Fridges at local retailers. As of September 30, 2023, some 26,385 Freshpet Fridges had been installed at grocery stores and other food retailers across North America and parts of Europe. The company first sold shares to the public at $15 each in November 2014. In August 2023, Freshpet and activist investor Jana Partners announced a cooperation agreement. Freshpet had been fighting with Jana over the business’s direction and the makeup of its…