Under the agreement, Simmons Pet Food will acquire Menu Foods Ltd. for approximately US$239 million, including assumption of existing debt. The transaction must be approved by two-thirds of the votes from the Fund's unitholders. A vote is expected to take place at a special meeting in September, with the final closing expected early in the fourth quarter of 2010.
While cat trends continue, the pandemic has added to overall slow-growth treatment of the cat food market.
Premiumization and humanization, as well as automation, fueled continued operation growth in spite of the COVID-19 pandemic.