Feb
18
Going to the Dogs: Why J.M. Smucker Bought a Pet-Food Maker
Posted in: Uncategorized
Dog bones and jelly might seem like an odd combination. But not according to executives at J.M. Smucker Co., which this week detailed their rationale for buying the maker of iconic pet-food brands like Milk-Bone, Meow Mix and Kibbles ‘n Bits.
The $5.8 billion deal to acquire Big Heart Pet Brands, which was announced earlier this month, marks the largest acquisition in Smucker’s history. So why did they do it?
“It fits extremely well with our purpose of bringing families together to share memorable meals and moments. And one of the key parts of the family nowadays, and probably has been historically, is your family pet,” CEO Richard Smucker said Tuesday during a presentation at the Consumer Analyst Group of New York annual meeting in Florida.
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