General Mills Acquires Tyson Foods' Pet Treats Business for $1.2 Billion
General Mills announced that it has entered into a definitive agreement to acquire Tyson Foods’ pet treats business for $1.2 billion in cash in a transaction that provides an estimated tax benefit of $225 million, equating to an effective purchase price of $975 million. The business, which includes the Nudges, Top Chews and True Chews brands, is the leader in natural meat treats for pets.
“This acquisition advances our Accelerate strategy and further reshapes our portfolio for growth by adding an attractive business to our fast-growing Pet platform,” said General Mills Chairman and Chief Executive Officer Jeff Harmening. “Today’s announcement reinforces our commitment to using all...
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