The kitten milk company Milk Bar Cookies is expected to go public next week, the latest in a series of investments by Milk Bar, which is owned by The Nestle Group.
The company, which made its name selling cookies with powdered milk, also makes cookies with other animal products.
The first two of those cookies were sold by The New York-based Nestle in 2013 and 2014, respectively.
The cookie makers say they’re making the money they’re getting for those investments because they’re selling the cookies online.
The latest investment in Milk Bar came Wednesday, when the company said it’s looking to raise $2.5 billion to help it expand its operations.
That’s a 10% increase from the $1 billion the company raised last year.
It also raised $500,000 in January to finance a new factory.
“We’ve built a solid foundation to continue to grow our business,” Milk Bar CEO Steve O’Brien said in a statement.
“While we haven’t been able to get the growth we’ve wanted, we are confident in our future growth and the potential of the product.”
The company’s stock rose 2.4% to $18.60 in late trading Thursday.
Milk Bar has been a major player in the pet food industry for a decade.
It has been profitable for Nestle since it began selling pet food in 1998.
Nestle said last year it would make up the bulk of its $100 billion-plus pet food business with the company’s pet food division.
The Nestles also have a presence in the food industry in China.
The deal comes as the global pet food market is experiencing a decline, according to the International Pet Food Association.
Pet food sales fell by 5.4%, to $6.3 trillion, in 2016, the trade group reported.
Nestlé said it hopes the new investment will help the company diversify its pet food operations.
“The Milk Bar brand is a strong partner for us to build our brand and expand our portfolio of products,” Nestle CEO Peter Schott said in the statement.