J M Smucker acquires Ainsworth Pet Nutrition in $1.9bn deal

By Pouyan Broukhim

Ohio-based foods manufacturer J M Smucker has announced that it has agreed to buy pet food company Ainsworth Pet Nutrition in a deal valued at $1.9bn.

Ainsworth Pet Nutrition is the maker of the Rachael Ray Nutrish – a leading brand within the fast-growing pet foods market.

See also:

“Ainsworth Pet Nutrition is an excellent strategic fit for our Company, as the Rachael Ray Nutrish brand adds another high-growth, on-trend brand to our pet food portfolio,” said Mark Smucker, Chief Executive Officer. “Their team has done a tremendous job growing this business, building Nutrish into one of the most recognizable premium pet food brands in the United States.”

The transaction will consist of a $1.7bn fee that will be funded with debt, alongside an estimated $200mn in tax benefit.

“Smucker's decision to acquire Ainsworth Pet Nutrition validates the power of the Ainsworth company mission,” said Jeff Watters, President & CEO of Ainsworth.  “At Ainsworth, our goal has been to improve the lives of pet families everywhere by making high quality pet food accessible to all pet parents. This single-minded focus has resonated with consumers and will continue to resonate under Smucker leadership.”

This deal follows General Mills purchase of Blue Buffalo Pet Products for $8bn in late February, as processed food makers continue to move into the pet foods industry, with the market currently valued at $30bn in the US and growing.


Featured Articles

Amelia DeLuca, CSO at Delta Air Lines on Female Leadership

Driving decarbonisation at Delta Air Lines, Chief Sustainability Officer Amelia DeLuca discusses the rise of the CSO and value of more women in leadership

Liz Elting – Driving Equality & Building Billion-$ Business

Founder and CEO Liz Elting Turned Her Passion into Purpose and Created a Billion-Dollar Business While Fighting for Workplace Equality – and Winning

JPMorgan Chase: Committed to supporting the next generation

JPMorgan has unveiled a host of new and expanded philanthropic activities totalling US$3.5 million to support the development of apprenticeship programmes

How efficient digital ecosystems became business critical

Technology & AI

Mastercard: Supporting clients at a time of rapid evolution

Digital Strategy

Why Ceridian has boldly rebranded to Dayforce

Human Capital