Pet food giant Mars Petcare has signed a definitive agreement to acquire pet food company Champion Petfoods from an investor group led by Bedford Capital and Healthcare of Ontario Pension Plan.
The 35-year-old company manufactures so-called 'biologically appropriate' pet food products that ensure dogs and cats get natural nourishment.
Champion Petfoods' two premier brands include Orijen and Acana, which are sold in over 90 countries across the world.
The companies have not disclosed the terms of the transaction, which is subject to customary regulatory approvals and expected to close in the first half of 2023.
'Premium Pet Food'
Ikdeep Singh, global president of Mars Pet Nutrition, stated, "We are thrilled to welcome Champion Petfoods and its more than 800 talented people to the Mars Petcare family.
"The Champion Petfoods team has been a pioneer in developing high-quality and premium pet food in the natural category that pet lovers around the world trust.”
Mars Petcare, a part of Mars, Incorporated, offers products and services within veterinary health, nutrition, innovation and technology.
It is supported by the Waltham Petcare Science Institute and has been involved in research into pet health for over 50 years.
A Broader Range Of Options
The acquisition will help Mars Petcare offer a broader range of options for pet owners as Champion Petfoods’ brands complement former's existing pet food portfolio, Mars said in a statement.
It will see Mars Petcare expand its offering in the premium pet food category within pet specialty and independent retail, as well as digital commerce channels.
Champion Petfoods’ dry food products are manufactured in company-owned kitchens in Canada and the United States.
Mars Petcare will support Champion Petfoods’ team in driving further growth and innovation and help the company to fully capitalise on opportunities to expand its portfolio to meet the evolving needs of pet owners, it said.
© 2022 European Supermarket Magazine – your source for the latest A Brands news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.