26 recent pet food, treat industry M&As

KANSAS CITY, MO. — While M&A activity in the pet nutrition continues to slow compared to recent years, the pet food category remains an attractive investment, as evidenced by the 26 mergers and acquisitions announced by pet food manufacturers, industry suppliers and retailers in the last six months of the year.

Read on for our recap of mergers and acquisitions in the pet nutrition industry from July to December 2024.

 

Manufacturers

On July 9, Vetnique Labs announced its acquisition of pet supplement producer Lintbells. Based in Hertfordshire, United Kingdom, Lintbells is known for its dog supplement brand YuMove, which offers a variety of products targeting joint health and mobility, digestive health, anxiety, dermatological and dental health. Financial terms of the deal were not disclosed. 

English pet food processor Pets Choice Ltd. scooped up HOWND, a vegan dog food brand, from Power Pet Brands Ltd. The acquisition included the brand’s dog food, treats and pet care products, expanding Pets Choice’s share in the premium and advance nutrition products. The acquisition went into effect Aug. 5. 

Advancing upon its goal to become a leading player in the Central European pet food market, The Nutriment Company acquired Natural Instinct, a manufacturer that specializes in biologically appropriate raw foods for cats and dogs. According to The Nutriment Company, Natural Instinct is a pioneer in the raw segment. 

Later, The Nutriment Company also acquired two other pet food companies: PETMAN and Pet Treats Wholesale Ltd. PETMAN is a German raw pet food producer and Pet Treats Wholesale is a UK natural dog treat and chew manufacturer. 

SunRice Group’s animal nutrition division CopRice acquired Australian pet food company SavourLife for $13.4 million, expanding further into the branded pet food sector. CopRice manufactures SavourLife’s dog food range and plans to integrate the company into its existing business. SavourLife will leverage CopRice’s expertise to accelerate its growth throughout Australia.

On Aug. 23, Inspired Pet Nutrition acquired Butcher’s Pet Care (BPC), a leading UK processor of wet pet foods. BPC has three pet food brands, Butcher’s, Blink! and Classic, offering a range of premium, natural formulas. The acquisition builds upon Inspired Pet’s previous acquisition of Pet Food UK, allowing it to scale its presence in a range of pet food categories, channels and customer segments. 

Kansas City, Mo.-based Three Dog Brands, LLC (TDB) shared its acquisition of Kennelmaster Foods, Inc., a company that specializes in savory, dehydrated pet treats marketed under the Chips Naturals brand. Kennelmaster’s products are manufactured at its facility in New Smyrna Beach, Fla. The acquisition will expand upon TDB’s dehydrated treat offerings, strengthening its position in the pet treat segment.  

Following its partnership with pet diagnostic artificial intelligence (AI) company DIG Labs last year, fresh dog food company Ollie scooped up the platform on Oct. 5. Through the acquisition, Ollie will leverage DIG’s data capabilities to gather real-time pet insights and use the data to design and improve its pet food recipes to ensure maximum effectiveness, providing personalized nutrition recommendations and portions for each dog. Additionally, Ollie will also introduce new initiatives, like weight loss programs, personalized experiences for puppies, recipe optimization to support stool health, and more.

On Oct. 8, 2B Associations, a pet wellness company, announced its acquisition of PreMark Health Science, a manufacturer of a variety of health and wellness products. Through the deal, 2B will leverage PreMark’s manufacturing capabilities to bring pet products to market faster, specifically supporting its Carson and Bear brand. 2B plans to roll out new products, addressing a variety of dog need states, from mobility to gut health.

Across the pond, Pets Choice Ltd scooped up several pet brands from Petlife International Ltd, expanding its portfolio. Of the five brands included in the acquisition, two specialize in milk replacement products for kittens and puppies, Cimicat and Welpi. According to Tony Raeburn, chief executive officer of Pets Choice, the brands will allow the company to further consolidate its leading position in the pet care industry. 

Later in October, Canadian manufacturer Modern Plant Based Foods shared it had completed its acquisition of AnimalKind, another plant-based pet food company. Through the acquisition, Modern will expand its product offerings, allowing it to expand further into the plant-based pet food sector. 

Pure Treats Inc., manufacturer of pet food, treat and topper brand PureBites, acquired Bar W Foods and Eighteen Below Partners (18 Below), allowing Pure Treats to meeting growing consumer demand. The acquisition includes 18 Below’s facility in Fort Worth, Texas, and will enable PureBites to expand its capacity and product offerings in the raw, freeze-dried pet nutrition sector. 

In a striking move, General Mills scooped up Whitebridge Pet Brands’ North American business for $1.45 billion. The deal includes Whitebridge’s Tiki Pets and Cloud Star brands, which are set to expand General Mills’ offerings in cat food and pet treat segments, and two manufacturing facilities in Joplin, Mo. This acquisition builds upon General Mills’ continue expansion in pet, as its portfolio includes Blue Buffalo, Nudges, Top Chews, True Chews, Fera Pets and Edgard & Cooper. 

Across the globe, Premium Petfood Brands, a Dutch manufacturer, shared its acquisition of organic pet food brand Yarrah, marking Premium Petfood’s expansion into the organic pet food arena. Premium Petfood pursued the deal following Yarrah’s bankruptcy, believing the brand would allow it to offer a wider selection of responsible food to consumers. 

Cellana Inc. and PhytoSmart Inc. announced their merger at the end of October, making PhytoSmart a wholly owned subsidiary of Cellana. Both companies specialize in the development of algae-based products, with Phytosmart specifically producing Omega supplements for pets. Under the merger, PhytoSmart will tap Cellana’s algae growing process to expand its pet offerings, enabling it to become more established in the pet nutrition industry. Following this, the companies then plan to target the human food space. 

On Nov. 19, pet and human supplement manufacturer FoodScience was acquired by Morgan Stanley Capital Partners. The acquisition marks Morgan Stanley’s third investment in pet food. Through the deal the private equity plans to expand FoodScience’s product portfolio and advance its organic growth. 

Expanding its cellular agriculture platform, CULT Food Science ended 2024 by acquiring The Better Butchers (TBB), a developer of meat alternatives. According to CULT, TBB’s meat alternatives excel in nutritional content, texture and taste, aspects that will build upon CULT’s current portfolio, which includes pet food brand Noochies! As part of the deal, CULT will contribute at least $300,000 to help further scale TBB’s business. 

Targeting its distribution operations, Virbac’s Turkish subsidiary acquired Mopsan, a companion animal products distributor. Mopsan has previously partnered with Virbac, managing its sales and marketing activities in Turkey. Through the acquisition, Virbac aims to strengthen its foothold in the Turkish pet health market.

 

Suppliers

In July, Nutreco International B.V, a subsidiary of Trouw Nutrition South Africa, announced it had agreed to acquire AECI Limited’s Animal Health business, which specializes in animal feed premixes. Through the acquisition, Nutreco will use AECI’s animal nutrition capabilities to enhance its operations in South Africa and expand its reach into key markets.

Private equity firm Canopy Capital Partners acquired Pet Palette Distribution, a pet product distributor that specifically serves the independent pet retail channel. Pet industry veteran Chris Miller joined the private equity in the acquisition, becoming Pet Palette’s new chief executive officer. The acquisition represents Canopy Capital’s pet industry-focused investment strategy. 

Ingredients company Above Food Ingredients shared its plans to acquire The Redwood Group’s Specialty Crop Food Ingredient division for $34 million. The division supplies high-quality grains, pulses and specialty crops to customers in the human and pet nutrition industries. According to Above Food, the acquisition will enable it to expand its presence in the North American market with an emphasis on pet food. 

On Oct. 4, French yeast manufacturer Lesaffre acquired 70% stake in Biorigin, a producer of yeast products for animal and human nutrition, making it majority shareholder of the company. The acquisition is set to improve Lesaffre’s production processes, logistics and services for its customers. It will leverage Biorigin’s capabilities, including those in pet food, to enhance its yeast derivative ingredient solutions. 

Food safety and quality company Mérieux NutriSciences entered into an agreement to acquire the food testing business of Bureau Veritas for €360 million ($393.4 million USD). According to the company, the transaction will reinforce its position as a global leader in food testing, inspection and certification (TIC), which is experiencing growth due to consumer demand for enhanced food safety and quality. 

In December, processing equipment supplier CPM announced its acquisition of Jacobs Global, a supplier of aftermarket parts for hammermills and pellet mills. The acquisition will enhance CPM’s product offerings, expand its market reach and capacity to better serve its customers in animal feed, oilseed and biomass processing operations. 

On Dec. 18, packaging company TOPPAN Holdings agreed to acquire Sonoco’s Thermoformed & Flexible Packaging (TFP) business for $1.8 billion. Sonoco’s TFP business serves a wide array of industries, including pet food, complementing TOPPAN’s current capabilities and offerings. According to TOPPAN, the transaction is an “essential milestone” in its strategy to become a global leader in sustainable packaging solutions. 

 

Retailers/Programs

On Oct. 24, Tractor Supply announced its acquisition of online pet pharmacy Allivet. For the last several years, Allivet’s PetRx platform has partnered with the retailer, offering digital pet pharmacy services. The deal will strengthen Tractor Supply’s pet, equine and livestock offerings and allow it to expand Allivet’s reach and sales.  

Keep your finger on the pulse of M&A activity in the pet nutrition space here. Missed these M&A announcements? Sign up for our Operations newsletter to never miss an M&A update.