General Mills To Acquire Whitebridge Pet Brands’ Businesses For $1.45 Billion: Retail’s On Wait-And-Watch Mode

Shares of General Mills Inc ($GIS) were in focus on Thursday after the company said it will acquire Whitebridge Pet Brands’ North American premium cat feeding and pet treating business from European investment firm NXMH for $1.45 billion.

General Mills will assume operations of two manufacturing facilities in Joplin, Missouri while NXMH will retain Whitebridge Pet Brands’ European business and brands.

The firm highlighted that the North American Whitebridge Pet Brands business generated approximately $325 million in U.S. Nielsen-measured retail sales in the past twelve months, mostly in the pet specialty and e-commerce channels.

General Mills also said the deal advances its ‘Accelerate’ strategy, with a focus on its core markets, global platforms, and local gem brands to drive sustainable, profitable growth and top-tier shareholder returns over the long term.

The transaction is expected to close in the third quarter of fiscal 2025, subject to regulatory approval and other customary closing conditions. The company intends to fund the acquisition with cash on hand and new debt.

Group President Jon Nudi said acquiring the Tiki Pets and Cloud Star portfolio strengthens the firm’s commitment in the Pet space.

“These brands complement our Blue Buffalo portfolio and will help us incrementally grow in Cat feeding and Treats. We’re excited to welcome the North American Whitebridge team to General Mills and to provide pet parents with an expanding portfolio of brands to feed and treat their pets like family,” he said.

This is the fifth acquisition by General Mills in a span of six years. Some of the other acquisitions include Blue Buffalo (2018); Nudges, Top Chews, and True Chews (2021); Fera Pets (2023); and Edgard & Cooper (2024).

Meanwhile, retail sentiment on Stocktwits was trending in the ‘neutral’ territory on Thursday following the announcement.

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