Latest Deals

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General Mills has agreed to acquire Whitebridge Pet Brands’ North American cat-food and pet-treats business for $1.45bn. The US food giant, already home to pet-food assets including Blue Buffalo, has struck a deal to buy the business from Belgium-based private investment company NXMH. The acquisition covers brands including Tiki Pets and Cloud Star. The acquisition marks General Mills’ fifth in the pet sector. It entered the market in 2018 with the $8bn purchase of Blue Buffalo. 

PepsiCo is to buy out Israel’s Strauss Group from their Sabra and Obela dips ventures. Strauss Group said PepsiCo is paying $243.8m. Some $240.8m, which includes a shareholder loan, will be for Sabra with the rest for Obela. The two ventures have both been in place for more than a decade. Sabra, which focuses on North America, was formed in 2008. Obela, set up in 2011, supplies Australia, New Zealand and Mexico.

Kerry Group has agreed to sell its consumer dairy and ingredients businesses for €500m ($531m) to Kerry Co-Operative Creameries. In a two part deal, the co-op acquire 70% of Kerry Dairy Ireland for €350m, with Kerry Group initially retaining the remainder. Part two will be settled through a call-option process, which can be exercised by the co-op anytime up to July 2035 for a cash consideration of €150m for the other 30% interest.

Dairy giant Arla Foods is keen to snap up a majority stake in Egyptian food-and-beverage company Arabian Food Industries, known as Domty. Arla has made a non-binding offer for Domty worth E£31.48 per share, valuing the listed company at E£8.9bn ($183m). Kim Villadsen, an Arla SVP, described Domty as “a leading player” in Egypt and added: “We are now looking at the details before deciding whether to proceed with purchasing the business.”