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JM Smucker to Purchase Ainsworth Pet Nutrition

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DeeDee:
And another one bites the dust, though I'm not sure it's exactly a big deal.


--- Quote ---Per Reuters “J. M. Smucker Co said on Wednesday it would buy Rachael Ray Dog food maker Ainsworth Pet Nutrition for about $1.9 billion in cash to strengthen its pet food portfolio.”

The press release continues…

“Ainsworth Pet Nutrition is an excellent strategic fit for our company, as the Rachael Ray Nutrish brand adds another high-growth, on-trend brand to our pet food portfolio,” J. M. Smucker Chief Executive Officer Mark Smucker said.

The deal, which the company will fund with debt, is valued at $1.9 billion, excluding an expected tax benefit of about $200 million.

The deal increases Smucker’s pet food portfolio to 15 brands.
--- End quote ---

Read the rest at: http://truthaboutpetfood.com/jm-smucker-to-purchase-ainsworth-pet-nutrition/

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