US firm Smucker enters pet food business, acquires major brand for $3.2bn
February 4 , 2015
American food and beverage firm JM Smucker made its entry into the pet food business by acquiring the Big Heart Pet Brands for $3.2 billion.
Well-known pet brands such as Pup-Peroni and Meow Mix will now be part of Smucker’s business.
The US pet snack and food industry is estimated to be about $21 billion a year.
Richard Smucker, the firm’s chief executive, said that the deal provided it with “compelling benefits” nearly two out of every three households in the US having at least one pet.