Multinational branded processed consumer foods manufacturer to acquire pet food company for $1.45 billion

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Whitebridge Pet Brands North America, a cat and dog nutrition company will be acquired by General Mills, Inc from NXMH. The transaction is valued at $1.45 billion, according to a recent company announcement.

The definitive acquisition agreement includes the Tiki Pets and Cloud Star brands and targets the growing cat feeding and pet treat sectors. Together, both sectors represent $24 billion in retail sales within the broader $52 billion US pet food market.¹ In the last year, North American Whitebridge Pet Brands generated an estimated $325 million in US Nielsen-measured retail sales, specifically in the pet specialty and E-commerce channels.

“Acquiring the Tiki Pets and Cloud Star portfolio strengthens our commitment in the Pet space,” Jon Nudi, group president, North America Pet, International, and North America Foodservice, General Mills, said in the announcement.¹ “These brands complement our Blue Buffalo portfolio and will help us incrementally grow in cat feeding and teats. We’re excited to welcome the North American Whitebridge team to General Mills and to provide pet parents with an expanding portfolio of brands to feed and treat their pets like family.”

According to General Mills, the move to acquire Whitebridge Pet Brands aligns with the company’s “Accelerate strategy,” which focuses on its core markets, global platforms, and local brands to achieve sustainable, profitable growth and deliver “top tier” returns to shareholders over the long term.¹

The transaction is General Mills’ fifth announced or completed acquisition in the pet category. The company’s 4 other acquisitions include Blue Buffalo, acquired in 2018; Nudges, Top Chews, and True Chews, acquired in 2021; Fera Pets, acquired in 2023; and Edgard & Cooper, acquired in 2024. Whitebridge Pet Brands’ acquisition in anticipated to be complete in the third quarter of fiscal year 2025. The acquisition will be funded with cash on hand and new debt, according to General Mills.

As part of the agreement, General Mills will assume control of 2 manufacturing facilities in Joplin, Missouri. NXMH will keep ownership of Whitebridge Pet Brands’ European business and its associated brands.

General Mills’ brand portfolio includes brands like Cheerios, Nature Valley, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Totino’s, Annie’s, Wanchai Ferry, Yoki, and more. Whitebridge Pet Brands includes Schesir, Stuzzy, Petite Cuisine, Dogswell, Pet Botanics, and more.²

References

1. General Mills advances Accelerate strategy with acquisition of Whitebridge Pet Brands’ North American premium cat feeding and pet treating business. News release. General Mills, Inc. November 14, 2024. Accessed November 29, 2024. https://www.businesswire.com/news/home/20241114075527/en/General-Mills-Advances-Accelerate-Strategy-with-Acquisition-of-Whitebridge-Pet-Brands’-North-American-Premium-Cat-Feeding-and-Pet-Treating-Business
2. Our brands. Whitebridge Pet Brands. Accessed November 19, 2024. https://whitebridgepetbrands.com/#ourbrands