Dogs might like Cheerios, but General Mills wants to give them more than that.
The Minneapolis-based food manufacturer, and maker of the famous breakfast cereal, has reached a deal to acquire Blue Buffalo Pet Products for about $8 billion.
The acquisition catapults General Mills into the growing market for natural pet foods made with what it called "wholesome" ingredients.
Wilton, Conn.-based Blue Buffalo sells a wide variety of pet food products, including veterinary diet goods, for a total of $1.275 billion in sales in 2017.
The deal comes as General Mills is seeking to reinvent itself as Americans gravitate away from packaged and processed foods.
Listen to the story below:
Listen to the story below:
0 comments:
Post a Comment