Stray pet businesses will find new owners in 2023

Pet Valu Holdings

28/12/2022 14:34

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Sharon Lam
       TORONTO, Dec 28 (Reuters Breakingviews) - Americans are
expected to spend more than $275 bln on their furry friends by
2030, outpacing GDP growth. Even so, exuberant pandemic-fueled
valuations have come crashing down. Nestlé, Mars or
Colgate-Palmolive are strong candidates to target the industry’s
stand-alone operators. 
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    CONTEXT NEWS
    Mars Petcare said on Nov. 1 that it had acquired Champion
Petfoods, which owns the Orijen and Acana brands, from an
investor group led by Bedford Capital and Healthcare of Ontario
Pension Plan. Separately, Mars also agreed to acquire pet food
brand Nom Nom for an undisclosed price, Bloomberg reported on
Jan. 14.
 (Editing by Jeffrey Goldfarb and Katrina Hamlin)
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