SECAUCUS, N.J. - Freshpet Inc . (NASDAQ:FRPT), known for its fresh, refrigerated pet food, has partnered with singer-songwriter Meghan Trainor to promote the benefits of fresh food for pets. The collaboration, announced on National Pet Day, appoints Trainor as Freshpet's first ambassador.
Trainor, who has expressed her dedication to her pets' health and happiness, will be featured in an online and social media campaign by Freshpet. She has previously prepared homemade meals for her dogs but has since switched to Freshpet, citing the brand's use of real meat, fruits, and vegetables as aligning with her standards for pet nutrition.
Scott Morris, Freshpet Co-Founder and President, praised Trainor's authenticity and her alignment with the brand's values. The partnership aims to educate pet owners on the advantages of feeding pets fresh, natural food.
Freshpet, established in 2006, has been on a mission to improve pet lives with fresh, nutritious food while also emphasizing sustainable practices. Their products are made with natural ingredients and are available in various retailers across North America and Europe, as well as online in the U.S.
Meghan Trainor rose to fame with her hit "All About That Bass" and has since amassed a significant following, with over 62 million followers across social media platforms. She is set to release her sixth album, "Timeless," on June 7 and will embark on a North American tour in September 2024.
The partnership with Trainor is part of Freshpet's strategy to reach more pet owners and inform them about the importance of fresh pet food. Trainor's involvement is expected to begin this month, with appearances across multiple media platforms.
This news is based on a press release statement.
InvestingPro Insights
As Freshpet Inc. (NASDAQ:FRPT) announces its partnership with Meghan Trainor, the company's financial health and market performance may be of interest to investors monitoring the pet food industry. According to recent metrics from InvestingPro, Freshpet's market capitalization stands at a robust $5.47 billion USD, reflecting the company's significant presence in the market.
InvestingPro Data reveals a notable revenue growth of 28.82% in the last twelve months as of Q4 2023, which is a positive indicator of the company's sales momentum. Additionally, the quarterly revenue growth rate for Q4 2023 was 29.9%, suggesting a consistent upward trend. Despite these strong growth figures, investors should be aware of Freshpet's current P/E ratio, which at -161.96, indicates that the company is trading at a premium relative to its earnings.
Two InvestingPro Tips highlight the company's potential for future growth. Analysts expect net income to grow this year, and they also anticipate sales growth in the current year. These projections suggest that Freshpet's strategic initiatives, including partnerships like the one with Meghan Trainor, could positively impact the company's financial performance.
Moreover, for those interested in further insights, InvestingPro offers an array of additional tips, such as Freshpet's high return over the last year and the company's moderate level of debt, which may be relevant for assessing the company's financial stability. In total, there are 17 additional InvestingPro Tips available for Freshpet, which can be accessed for a deeper analysis of the company's financial health and market position.
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