General Mills has announced that it has completed the acquisition of Tyson Foods’ pet treats business for $1.2 billion in cash. The business, the leader in natural meat treats for pets, includes the Nudges, Top Chews, and True Chews brands.
As part of the transaction, General Mills also acquired a manufacturing facility in Independence, Iowa, which employs approximately 300 team members. Tyson Foods will continue to provide meat ingredients for the pet treats business.
“This acquisition represents an important step as we reshape our portfolio for growth, in line with our Accelerate strategy,” says General Mills Chairman and Chief Executive Officer Jeff Harmening. “This business is a wonderful complement to our BLUE petfood portfolio, and we see a long runway of strong, profitable growth ahead for our combined petfood business.”
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“We’re proud of the tremendous success of this business and the diligent work by our team to meet growing demand for high-quality pet treats,” says Noelle O’Mara, group president of prepared foods for Tyson Foods. “We believe the time is right to transition these great brands to an established pet foods business where they will complement its existing portfolio.”
Tyson Foods entered the pet treat market with the launch of True Chews dog treats in 2010. It expanded to include the Nudges brand in 2011 and Top Chews in 2012. The brands offer natural treats that are made in the USA.
Tyson Foods’ pet treats portfolio generated more than $240 million in net sales in the 12 months ended April 3, 2021.
