J M SMUCKER Co acquired Ainsworth Pet Nutrition, LLC (Rachael Ray Nutrish) for approximately $1.7 billion (after an estimated tax benefit of $200 million), a transaction completed in May 2018, structured as all cash.
Ainsworth Pet Nutrition, LLC (Rachael Ray Nutrish) operates in Pet food and pet snacks (premium), is based in Meadville, Pennsylvania, USA (predominantly U.S. sales). Ainsworth Pet Nutrition is a leading producer, distributor and marketer of premium pet food and pet snacks, predominately within the United States. About two-thirds of its sales are generated by the Rachael Ray Nutrish brand, a fast-growing premium pet food line; Ainsworth also sells under additional branded and private-label trademarks.
Strengthens Smucker's pet food portfolio with a high-growth, on-trend brand and significantly expands presence in the fast-growing premium pet food category, with annual cost synergies of $55 million expected within the first three years.
High-growth premium positioning anchored by the Rachael Ray Nutrish brand in a fast-growing category. Annual cost synergies of approximately $55 million expected within first three years Integrated into Smucker's U.S. Retail Pet Foods segment
We are excited to have completed this transaction, which increases the scale and further accelerates the growth profile of our pet food and pet snacks business.Mark Smucker, Chief Executive Officer, The J.M. Smucker Company
The Ainsworth team has done a tremendous job growing this business, building Rachael Ray Nutrish into one of the most recognizable premium pet food brands in the United States.Mark Smucker, CEO, The J.M. Smucker Company (completion release)
Advisory firms were not disclosed for this transaction.