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General Mills advances accelerate strategy with acquisition of Whitebridge Pet Brands
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Tuesday, 19 November, 2024, 15 : 00 PM [IST]
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Minneapolis, USA
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General Mills Inc., announced it has entered into a definitive agreement to acquire Whitebridge Pet Brands’, North American premium cat feeding and pet treating business from NXMH in a transaction valued at $1.45 billion. The business, which includes the Tiki Pets and Cloud Star portfolio of brands, is a growth leader in the cat feeding and pet treating segments, which collectively make up $24 billion in retail sales within the broader $52 billion US pet food category. With this transaction, the company further advances the accelerate strategy, with a focus on its core markets, global platforms and local gem brands to drive sustainable, profitable growth and top-tier shareholder returns over the long term.
Jon Nudi, group president, North America Pet, international, and North America Foodservice, General Mills, said, “Acquiring the Tiki Pets and Cloud Star portfolio strengthens our commitment in the Pet space. These brands complement our Blue Buffalo portfolio and will help us incrementally grow in Cat feeding and Treats. 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.”
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