General Mills To Acquire Tiki Pets, Cloud Star Pet Brands In $1.45 Billion Deal
General Mills will purchase Whitebridge Pet Brands’ North American premium cat feeding and pet treat business from European private equity firm NXMH in a $1.45 billion deal.
The sale includes the Tiki Pets and Cloud Star portfolio, as well as two manufacturing facilities in Joplin, MO.
The North American Whitebridge Pet Brands business generated approximately $325 million in U.S. retail sales in the past 12 months, predominantly in the pet specialty and e-commerce channels, according to General Mills.
The deal is expected to close in the fiscal third quarter of 2025. NXMH will retain the European business and brands.
Accelerating Pet Sales
The deal is meant to fuel General Mills’ larger Accelerate growth plan, a portfolio-shaping strategy focused on select core markets and global platforms. These new brands are expected by General Mills to complement their Blue Buffalo portfolio, which is their second largest brand.
- See also: General Mills Exits Yogurt
CEO Jeff Harmening indicated at an investors conference in September that their M&A focus included such bolt-on acquisitions in the $1 billion to $2 billion range within its core categories. The company, which is the No. 31 publicly owned consumer goods company, has been steadily growing their pet presence since acquiring Blue Buffalo in 2018 and Nudges, Top Chews, and True Chews in 2021.
They added Fera Pets last year and picked up Edgard & Cooper this year.
In addition to providing a stronger foothold within the pet category, General Mills pegged the Whitebridge brands to help grow specifically within cat feeding and treats, the latter of which was highlighted as a priority by Harmening at the conference.
The company is also stepping up its pet media investments.
General Mills’ pet sales dipped 1% in its fiscal first quarter in September, while overall total company net sales also decreased 1%.
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