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

PwC's Kathryn Kaminsky – the role of boards on social issues

As Vice Chair Trust Solutions Co-Leader at PwC, Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues

Why your business needs a Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 top AI and ML trends for the enterprise in 2023 – Dataiku

With 2023 likely to be a huge year for AI, experts from AI platform provider Dataiku deliver their enterprise AI and ML trends for the year ahead

From NYC to Hong Kong, the rise of the private members' club

Leadership & Strategy

Meet the CEO: Jill Stelfox of Panzura, exclusive interview

Leadership & Strategy

The best Michelin-starred restaurants that are meat-free