What we know about Mars Petcare’s acquisition of Champion Petfoods

As a result of the takeover, both companies will provide a “broader range” of options for pet owners.

“Champion Petfoods’ brands complement Mars Petcare’s existing pet food portfolio by adding well-respected brands in the premium pet food category, broadening further its offering within pet specialty and independent retail, as well as digital commerce channels,” said Ikdeep Singh, Global President at Mars Pet Nutrition.

Mars will also support Champion’s team in driving “further growth, innovation, and success.”

“Combined with Mars Petcare, Champion Petfoods will also be able to fully capitalize on opportunities to expand its portfolio to meet evolving pet owner needs,” added Singh.

Undisclosed amount

The takeover, of an undisclosed amount, follows recent rumors that the Canadian manufacturer was “exploring strategic options” to sell the business.

Bloomberg reported earlier in June that one of the potential options was the sale of the company, which could bring its value to over $2 billion.

Back in 2018, a report in the Wall Street Journal revealed that Nestlé Purina was in talks to purchase a majority share of the manufacturer for a similar value.

Founded in Alberta, the company produces dog and cat food brands Acana and Orijen and operates across 90 countries, including North America, Asia Pacific, and Europe.