Adapted from a press release:
Mars Petcare has announced it is acquiring Champion Petfoods, a Canada-based maker of premium pet foods under the Acana and Orijen brands. The announcement follows reports earlier in 2022 that Champion executives were exploring options for a sale, with an asking price of US$2 billion. In 2018, media such as the Wall Street Journal reported that Nestle Purina PetCare was in discussions to buy Champion then for the same amount.
The terms of the actual transaction between Mars and Champion have not been disclosed. According to the Top Pet Food Companies Database, Champion had revenues of approximately US$200 million. Mars is acquiring it from an investor group led by Bedford Capital and Healthcare of Ontario Pension Plan, both privately owned, as is Mars. The Top Pet Food Companies Database lists Mars as the largest pet food company globally, with 2021 revenues of about US$1.9 billion.
Mars and Champion statements on transaction
Ikdeep Singh, global president of 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.”
Blaine McPeak, CEO of 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.”
This transaction follows Mars’ January 2022 acquisition of Nom Nom, a maker of fresh pet foods, which was placed as an independent brand in the Royal Canin division, according to the company.