US Federal Trade Commission (FTC) approved the sale of Menu Foods Income Fund to Arkansas, USA-based competitor, Simmons Pet Food Inc.
The US$239 million takeover offer from Simmons was already approved by shareholders and is expected to close in November. Under the deal with Simmons, units of Menu Foods Income Fund will be redeemed for US$4.80 per unit in cash after the disposition of the fund's assets. The acquisition marks the end of Menu's struggle to recover from a tainted food scandal in 2007, when the company began its strategic review.
2 top trends for 2021 according to the pet food industry
New shelter data casts doubt on whether the pet population and pet ownership are truly growing.
Shelter pet adoption numbers down in 2020, but high rate
While the pandemic caused unprecedented suffering worldwide in 2020, the disruptions to dogs, cats and other pets adoption numbers may normalize in 2021.