General Mills, makers of Cheerios, Annie’s, Häagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, and other familiar grocery store brands, has purchased Blue Buffalo Pet Products.
This purchase is General Mills’ first entry into the pet food business since the 1960s. They join Mars, Nestlé Purina and J.M. Smuckers as large conglomerates producing both human and pet foods internationally.
The acquisition was an all cash deal valued at approximately 8 billion dollars. According to to the company, “the transaction establishes General Mills as the leader in the U.S. Wholesome Natural pet food category, the fastest growing portion of the overall pet food market, and accelerates its portfolio reshaping strategy.”
It is expected that Blue Buffalo will continue to operate out of their Wilton, Connecticut manufacturing facility.
Read the company’s official announcement here.
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