General Mills to Acquire Whitebridge Pet Brands' North American Business for $1.45 Billion

General Mills, Inc. has disclosed the acquisition of Whitebridge Pet Brands' North American premium Cat feeding and Pet treating business from NXMH for $1.45 billion. This acquisition, featuring Tiki Pets and Cloud Star brands, falls in line with General Mills' strategy to focus on core markets and local gem brands. The deal is part of General Mills' aim to bolster its presence in the Pet space and complement its existing Blue Buffalo portfolio.

The transaction encompasses the transfer of two manufacturing facilities in Joplin, Missouri, with the European business and brands retained by NXMH. General Mills plans to fund the acquisition using cash reserves and new debt, expecting closure in the third quarter of fiscal 2025, pending regulatory approval and customary closing conditions. Legal counsel for General Mills is provided by Paul, Weiss, Rifkind, Wharton & Garrison LLP, while Houlihan Lokey and Willkie Farr & Gallagher LLP serve as exclusive financial advisor and legal counsel to NXMH, respectively.

The acquisition marks General Mills' fifth venture in the Pet category following previous engagements such as Blue Buffalo, Nudges, Top Chews, True Chews, Fera Pets, and Edgard & Cooper.