J M SMUCKER Co acquires Big Heart Pet Brands
Snapshot
J M SMUCKER Co acquired Big Heart Pet Brands for approximately $5.8 billion at announcement (~$6.0 billion at close, including assumed net debt of ~$2.5 billion) in March 2015. The transaction was structured as combination (cash and stock). Big Heart Pet Brands is a San Francisco, California, USA-based Pet food and pet snacks business.
- Acquirer
- J M SMUCKER Co
- Target
- Big Heart Pet Brands
- Value
- approximately $5.8 billion at announcement (~$6.0 billion at close, including assumed net debt of ~$2.5 billion)
- Date
- March 2015
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
J M SMUCKER Co acquired Big Heart Pet Brands for approximately $5.8 billion at announcement (~$6.0 billion at close, including assumed net debt of ~$2.5 billion), a transaction completed in March 2015, structured as combination (cash and stock).
Big Heart Pet Brands operates in Pet food and pet snacks, is based in San Francisco, California, USA, had revenue of about Estimated net sales of approximately $2.3 billion. Big Heart Pet Brands was the largest stand-alone producer, distributor and marketer of premium-quality, branded pet food and pet snacks in the United States, with a portfolio including Meow Mix, Milk-Bone, Kibbles 'n Bits, 9Lives, Natural Balance, Pup-Peroni, Gravy Train, Nature's Recipe, Canine Carry Outs and Milo's Kitchen.
Enters the growing $21 billion pet food and snacks category, continuing the Company's CPG leadership; combined pro forma annual net sales of approximately $8 billion, with annual synergies of approximately $200 million expected within the first three years.
Category-leading position in branded pet food and snacks, immediately giving Smucker scale in a large, growing adjacency. Annual synergies of approximately $200 million expected within first three years Formed the basis of Smucker's Pet Foods segment, led by Dave West
No advisory firms have been disclosed for this transaction.