Freshpet names Ivan Garcia as interim CFO as Todd Cunfer departs

BEDMINSTER, N.J. - Freshpet, Inc. (NASDAQ:FRPT), a pet food company currently trading at $52.87 and showing significant volatility according to InvestingPro data, announced Tuesday that Ivan Garcia, currently Vice President of Finance, will become Interim Chief Financial Officer effective October 17, 2025, replacing Todd Cunfer who is leaving for a position outside the company.

Garcia, who joined Freshpet in February 2014 before its IPO, has served in various finance roles at the company, most recently as Vice President of Finance since July 2023. Prior to Freshpet, he worked as an Audit Manager at KPMG US and holds a B.S. in Accounting and Business/Management from Montclair State University.

The pet food company has initiated an external search for a permanent CFO with assistance from an executive search firm.

"Ivan is well regarded by the Board and leadership team for his depth of understanding of the Freshpet business model," said Billy Cyr, Freshpet’s Chief Executive Officer, in a press release statement.

Cunfer, who has served as CFO for three years, will remain with the company until October 17 to support the transition. Cyr acknowledged Cunfer’s contributions to the company’s "success and profitability improvement."

In conjunction with the announcement, Freshpet reaffirmed its fiscal 2025 guidance that was provided on August 4, 2025. The company plans to report its third-quarter 2025 financial results on November 3, 2025.

Freshpet produces refrigerated pet foods made with fresh ingredients that are distributed through select grocery, mass, digital, pet specialty and club retailers across the United States, Canada and Europe.

In other recent news, Freshpet has seen a series of analyst actions that reflect varied perspectives on the company’s growth prospects. DA Davidson has reiterated its Buy rating on Freshpet, citing positive distribution growth opportunities and a favorable competitive landscape. Benchmark, however, lowered its price target from $95 to $80, highlighting concerns over weakening volume growth and challenges in attracting new pet households. UBS also reduced its price target to $48, maintaining a Sell rating due to concerns about slowing sales growth. TD Cowen adjusted its price target to $63, maintaining a Hold rating, as their analysis suggests slower growth compared to previous years. Meanwhile, JPMorgan has assumed coverage with a Neutral rating, setting a price target of $70. The firm emphasized Freshpet’s strong brand value and unique manufacturing footprint as competitive advantages. These recent developments indicate a mixed outlook from analysts regarding Freshpet’s future performance.

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