Nutritional food leader ADM has greatly expanded its pets business, acquiring a stake in four leaders in private brand pet treats and supplements.
Chicago-based ADM has acquired a 75% ownership stake in private brand pet products leaders PetDine, Pedigree Ovens, The Pound Bakery and NutraDine (all companies under P4 Companies).
The transaction values the four enterprises in their entirety at approximately $600 million, and ADM will acquire 75% of the equity, subject to customary adjustments.
“We’re continuing to advance our growth strategy and transform our company with targeted investments that expand our capabilities in large, high-growth segments, including pet nutrition — a key focus of our growing animal nutrition business,” said Vince Macciocchi, president of ADM’s nutrition business. “Annual global sales of pet food total $110 billion, forecast to grow to $140 billion by 2026 — with pet treats an even faster-growing category.”
With more than 300 employees, P4 Companies provides a complete range of highly customized pet treat and supplement products to more than 650 customers in 15 countries. The private label items include baked treats, semi-moist treats, long goods, blends, unique proteins, soft chews, liquids and powders, many of which are developed to meet the demand for clean labels.