Pet industry sees fresh wave of M&A deals this winter

GlobalPETS highlights the latest merger and acquisition (M&A) deals shaping the sector, from pet health and food to supply distribution.

Blackstone

New York-based investment firm Blackstone has emerged as the lead bidder to acquire Australian pet food manufacturer Real Pet Food Company.

According to data from Simply Wall St, the potential deal is valued at more than A$1 billion (approximately US$660 million), as private equity competition for Australian assets intensifies.

The acquisition would form part of Blackstone’s strategy to scale and diversify its global portfolio, while also providing exposure to a branded consumer goods business tied to pet ownership and grocery spending.

GlobalPETS has reached out to both Blackstone and Real Pet Food Company for comment but had not received a response at the time of publication.

I and love and you

US pet food brand I and love and you has acquired culinary-led cat food brand Made by Nacho for an undisclosed amount.

Following the transaction, the combined organization will operate remotely, while maintaining a headquarters in Boulder, Colorado. Both brands will retain their individual identities and continue to be sold under their existing names.

Together, I and love and you and Made by Nacho products are available in more than 30,000 retail locations nationwide, including Sprouts, Walmart, Albertsons Companies, Publix and PetSmart. The brands are also sold online via Amazon, Chewy, Thrive Market and their own websites.

In March, Made by Nacho expanded its presence at Walmart to more than 850 locations, offering a range of cat products, including its newest launch, Freeze-Dried Minnows.

Pure Treats

Canada-based Pure Treats expanded its presence in the raw pet food segment by acquiring Primal Pet Foods from Kinderhook Industries for an undisclosed amount in February 2026. Founded in 2001, Primal is a market leader in raw and freeze-dried pet food.

The transaction adds 2 of Primal’s manufacturing facilities, located in Abilene, Texas, and Montrose, Colorado, to Pure Treats’ operations, complementing the company’s existing production kitchens in Fort Worth, Texas, and Montreal, Canada.

Following the purchase, the acquired company will continue operating as a standalone brand under the new Primal Pure Treats umbrella.

“Our goal is to bring Primal back to its roots of exceptional food for pets delivered on time, with excellence and available exclusively through local neighborhood pet stores and our current loyal customers,” says Marc Cathcart, President of PureBites, one of Pure Treats’ flagship brands.

Covetrus and MWI Animal Health

In the same month, Covetrus merged with MWI Animal Health, the animal health division of the pharmaceutical solutions company Cencora. The merger positions MWI at an enterprise value of $3.5 billion (€3.2B).

Upon completion of the transaction, Cencora will receive upfront cash proceeds of $1.25 billion (€1.15B), $800 million (€736M) in preferred equity and $1.45 billion (€1.33B) in common equity in the combined company.

This will result in a non-controlling 34.3% common equity stake in the new entity.

“By bringing MWI’s strong distribution capabilities to our business, we can offer more solutions, improve logistics, create savings and develop innovative new ways to support the animal health ecosystem, including veterinarians, producers, dealers, manufacturers, distributors and pet parents,” says Ben Wolin, President and Chief Executive Officer (CEO) of Covetrus.

Rover Group

Pet sitting marketplace Rover Group is strengthening its feline care offering through the acquisition of Meowtel, a cat sitting platform serving more than 125,000 cats across over 8,000 cities in the United States. Terms of the deal were not disclosed.

Meowtel will continue operating as an independent brand led by co-founders Sonya Petcavich, CEO, and Bruno Leveque, Chief Technology Officer (CTO).

“We are excited to partner with Rover to further our mission of helping every cat and cat parent live their best life, which we will achieve by connecting pet parents across the United States with loving cat sitters,” says Petcavich.

Rover is also present in Canada, Australia and some countries in Europe (the UK, France, Spain, Germany, Italy, the Netherlands, Sweden, Norway, Denmark, Ireland, Austria, Belgium, Finland, Poland and Switzerland).

Discus Netherlands

Dutch pet retail group Discus Netherlands has acquired a stake in pet supplies wholesaler Wielink Dierenbenodigdheden for an undisclosed amount.

After the transaction, Wielink Dierenbenodigdheden will continue operating independently, retaining its name, organizational structure, employees and business relationships.

Both companies say they will benefit from a broader offering while maintaining freedom of choice and strengthening existing partnerships. Work has already started to expand additional logistics space in IJsselmuiden, approximately 100 km from Amsterdam.