Categories Earnings, Finance, Retail

General Mills gets its fill of Blue Buffalo

Blue Buffalo Pet Products will now have a new home at General Mills.

The consumer-foods giant plans to buy the dog-food maker for about $8 billion ($40 per share) in cash.

General Mills looks to finance the deal, which is expected to close by FY 2018 end, through a debt-equity-cash on hand combo.

Blue Buffalo is a leading pet food company that has seen growth in the green over the past few years through its natural treats for dogs and cats. The company’s most prominent brand BLUE tops the list of Wholesome Natural pet foods, posting over $1 billion in net sales last year.

This acquisition will give General Mills a strong position in the natural pet food category in the United States.

Pet foods maker Blue Buffalo
Courtesy: Blue Buffalo

With recent turn toward organic food by the caretakers for themselves, pets have also seemed to follow the trend.

Let’s hope it stays there, because “gluten-free vegan” may not go down well with our furry canine carnivores.

 

General Mills acquires pet foods maker Blue Buffalo

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top