Food

Tyson Foods will sell its pet treat business to General Mills for 12 billion

Tyson Foods, Inc. is to sell its successful animal treatment business to General Mills, Inc. for approximately $ 1.2 billion, the company announced.

The sale of the business, a leading natural pet treatment company, is expected to close by the end of fiscal year 2021, subject to regulatory requirements and other customary closing conditions. It includes the Nudges, True Chews, and Top Chews brands, as well as a manufacturing facility in Independence, Iowa. Tyson Foods will continue to supply meat ingredients for the pet treat business after General Mills takes ownership.

“We pride ourselves on the tremendous success of this business and the diligent work of our team to meet the growing demand for high-quality pet treats,” said Noelle O’Mara, Group President, Ready Meals for Tyson Foods. “We believe the time has come to transform these great brands into a well-established pet food business, adding to their existing portfolio.”

Tyson’s pet care business had sales of more than $ 240 million for the twelve months ended July 3, 2021. Market fundamentals are currently good in the $ 35 billion pet food industry, where pet ownership has increased during the pandemic.

Tyson Foods’ pet treatment business and its 300 or so team members will become part of General Mills upon completion of the sale.

Tyson Foods entered the pet care market in 2010 with the introduction of True Chews dog treats. The Nudges brands were launched in 2011 and the Top Chews brands in 2012. The brands offer natural goodies that are made in the USA.

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