What we currently know about the rumors around Champion Petfoods’ sale
The Canadian pet food manufacturer could be “exploring strategic options” to sell the business, although the company said to GlobalPETS that they don’t want to speculate on the matter.
Bloomberg reported a few days ago that Champion Petfoods was discussing options, including a potential sale, that could bring its value to over $2 billion (€1.9B).
According to the business and financial news provider, the Edmonton-based company is in the early stages of consultation with an advisor on the potential process. “Deliberations may not result in a transaction,” wrote Bloomberg following talks with people with knowledge of the matter.
Molly Keveney, the spokesperson for Champion Petfoods, stated to GlobalPETS that the company “doesn’t typically comment on industry rumors or speculation.”
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.
According to ZoomInfo and RocketReach, Champion Petfoods reported annual revenues of $210 million (€199M) in 2021.
The company also received multiple awards. The company’s brand Acana Pet Foods was recognized as Best National Brand at the 2017 American Choice, while Orijen freeze-dried dog food was named Brand of the Year 2017-2018 at the World Branding Forum.
Deloitte Canada named the company as one of the best-managed corporations in the country in 2021. The annual list includes 486 privately owned Canadian companies with at least $25 million in annual revenue.
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