Orville, Ohio – J. M. Smucker Co. is purchasing San Francisco, Calif.-based pet food manufacturer Big Heart Pet Brands for $3.2 billion.
Big Heart produces pet food and snack brands such as Meow Mix, Milk-Bone, Kibbles ‘n Bits and Pup-Peroni.
According to J.M. Smucker CEO Richard Smucker, the company “sees pet food as a third platform for growth, along with its food and beverage businesses.”
The acquisition will add $2.4 billion in sales for fiscal year 2016, with growth estimated at four to five per cent over coming years. Adds Smucker, the deal “enables us to now serve the mealtime and snacking needs of the whole family.”