General Mills Inc. recently announced it has entered into a definitive agreement to acquire Whitebridge Pet Brands’ North American premium cat feeding and pet treating business from NXMH in a transaction valued at $1.45 billion. The business, which includes the Tiki Pets and Cloud Star portfolio of brands, is a growth leader in the cat feeding and pet treating segments, which collectively make up $24 billion in retail sales within the broader $52 billion U.S. pet food category. With this transaction, General Mills further advances its accelerate strategy, with a focus on its core markets, global platforms and local gem brands to drive sustainable, profitable growth and top-tier shareholder returns over the long term.

“Acquiring the Tiki Pets and Cloud Star portfolio strengthens our commitment in the Pet space,” said Jon Nudi, group president of North America Pet, International, and North America Foodservice, General Mills. “These brands complement our Blue Buffalo portfolio and will help us incrementally grow in Cat feeding and Treats. We’re excited to welcome the North American Whitebridge team to General Mills and to provide pet parents with an expanding portfolio of brands to feed and treat their pets like family.”

The transaction marks the fifth acquisition General Mills has announced or completed in the pet category:

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The North American Whitebridge Pet Brands business generated approximately $325 million in U.S. Nielsen-measured retail sales in the past twelve months, predominantly in the pet specialty and e-commerce channels. As part of the transaction, General Mills will assume operations of two manufacturing facilities in Joplin, Missouri. NXMH will retain Whitebridge Pet Brands’ European business and brands.

General Mills intends to fund the acquisition with cash on hand and new debt. The transaction is anticipated to close in the third quarter of fiscal 2025, subject to regulatory approval and other customary closing conditions.