Colgate-Palmolive Company, an American multinational consumer products company, agreed to acquire three manufacturing plants from Arbor Investments-backed Red Collar Pet Foods, a manufacturer of mainstream and premium private label pet food, for $700m. "Our Hill’s business is growing well, and we continue to invest to expand production capacity, improve our capabilities with initiatives like our new Small Paws Innovation Center, and better engage pet parents, veterinarians and Hill’s retail partners. This investment will help further strengthen the Hill’s business today and for the long term," Noel Wallace, Colgate-Palmolive Company Chairman, President and CEO.