Benzinga | Jun 18, 2021 03:51PM EDT

Colgate's Hill's Pet Nutrition Invests $250M To Build New Factory In Kansas

* Colgate-Palmolive Company's (NYSE:CL) division Hill's Pet Nutrition has announced more than $250 million investment to build a new factory.

* The factory will be built in Leavenworth County in their home state of Kansas to help meet the growing demand for their vet recommended Hill's pet nutrition.

* The facility will be built on 80 acres in Tonganoxie Business Park in Tonganoxie, Kansas.

* "This project will represent the largest capital investment ever made by a manufacturer in Leavenworth County," said Steve Jack, Executive Director, Leavenworth County Development Corporation.

* The Tonganoxie plant will be Hill's fourth manufacturing site in the U.S.

* Colgate has cash and equivalents of $995 million as of March 31, 2021.

* Price action: CL shares are trading lower by 1.15% at $81.48 on the last check Friday.