Champion Petfoods is a strong strategic fit for Mars Petcare, complementing its global portfolio across pet nutrition products and health services
BRUSSELS and EDMONTON, AB, Nov. 1, 2022 /PRNewswire/ — Mars Petcare, part of Mars, Incorporated, today announced that it has signed a definitive agreement to acquire Champion Petfoods, a leading global pet food maker, from an investor group led by Bedford Capital and Healthcare of Ontario Pension Plan.
For more than 35 years, Champion Petfoods has been a pioneer in biologically appropriate pet foods, to nourish dogs and cats the way nature intended them to eat naturally in the wild. Champion Petfoods’ two premier brands, ORIJEN and ACANA, have built a strong and trusted reputation in more than 90 countries, growing rapidly as pet owners increasingly seek out nutrient-rich pet food.
Ikdeep Singh, Global President, Mars Pet Nutrition, stated: “We are thrilled to welcome Champion Petfoods and its more than 800 talented people to the Mars Petcare family. The Champion Petfoods team has been a pioneer in developing high-quality and premium pet food in the natural category that pet lovers around the world trust. Together, we will be even better positioned to support pet lovers and fulfill our Purpose to create A BETTER WORLD FOR PETS™.”
Mars Petcare is a Purpose-driven global business serving pets and pet owners through products and services within veterinary health, nutrition, innovation, and technology. Supported by the Waltham Petcare Science Institute, Mars Petcare has been advancing research into the health of pets for over 50 years, sharing breakthrough science in areas including preventive health.
Together, Champion Petfoods and Mars Petcare will provide a broader range of options for pet owners. Champion Petfoods’ brands complement Mars Petcare’s existing pet food portfolio by adding well-respected brands in the premium pet food category, broadening further its offering within pet specialty and independent retail, as well as digital commerce channels.
Champion Petfoods’ dry food products are manufactured in company-owned, world-class kitchens in both Canada and the United States. Mars Petcare’s significant capabilities and experienced Associates will support Champion Petfoods’ talented team in driving further growth, innovation, and success. Combined with Mars Petcare, Champion Petfoods will also be able to fully capitalize on opportunities to expand its portfolio to meet evolving pet owner needs.
Blaine McPeak, Chief Executive Officer, Champion Petfoods, stated: “We are excited to join Mars Petcare and become part of a world leader in pet nutrition and services. This announcement is a wonderful way to recognize all the employees over our history who helped build Champion into a pre-eminent global pet food company with our incredible brands ORIJEN and ACANA. We look forward to working with Mars Petcare on taking Champion to an entirely new level.”
The terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals and expected to close in the first half of 2023.
Advisors
J.P. Morgan Securities LLC served as Mars’ financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP acted as Mars’ legal advisor.
Morgan Stanley & Co. LLC served as Champion Petfoods’ financial advisor, and Torys LLP and Bennett Jones LLP acted as Champion Petfoods’ legal advisors.
About Mars, Incorporated
For more than a century, Mars, Incorporated has been driven by the belief that the world we want tomorrow starts with how we do business today. This common purpose unites our 140,000+ Associates. It is at the center of who we are as a global, family-owned business, and it fuels how we are transforming, innovating, and evolving to make a positive impact on the world.
Every year, our diverse and expanding portfolio of quality confectionery, food, and pet care products and services delight millions of people and supports millions of pets. With almost $45 billion in annual sales, we produce some of the world’s best-loved brands including Ben’s Original™, CESAR®, Cocoavia®, DOVE®, EXTRA®, KIND®, M&M’s®, SNICKERS®, PEDIGREE®, ROYAL CANIN®, and WHISKAS®. We are creating a better world for pets through nutrition, breakthrough programs in diagnostics, wearable health monitoring, DNA testing, pet welfare and comprehensive veterinary care with AniCura, BANFIELD™, BLUEPEARL™, Linnaeus and VCA™.
We know we can only be truly successful if our partners and the communities in which we operate prosper. The Mars Five Principles – Quality, Responsibility, Mutuality, Efficiency and Freedom – inspire our Associates to act every day to help create a better world tomorrow in which the planet, its people and pets can thrive.
About Champion Petfoods
Champion Petfoods, led by its trusted brands ORIJEN and ACANA, was founded in Alberta, Canada. The company has grown to be a key player in the global pet food industry across 90 countries with strong development in Canada, the U.S., Asia Pacific, and Europe. Its purpose, To Earn Pet Lover Trust Every Day so Pets Thrive for a Lifetime, provides the foundation for its highest aspirations as a company. And its Food Philosophy drives the company to provide the highest quality in every product it makes. To learn more visit championpetfoods.com
About Healthcare of Ontario Pension Plan
HOOPP is a multi-employer, defined benefit plan serving Ontario’s hospital and community-based healthcare sector, with more than 620 participating employers and 420,000 active, deferred and retired members. It operates as a private independent trust with a driving purpose to deliver the pension promise of retirement security for our members.
HOOPP is fully funded and its in-house team of investment professionals manages a highly diversified portfolio of more than C$114 billion in assets (as at Dec. 31, 2021). HOOPP Capital Partners is the private capital arm of HOOPP and has a portfolio of more than C$16 billion, including several investments in leading global consumer brands.
