As with most years, 2023 is seeing its fair share of pet food mergers & acquisitions (M&A), but deals to date have also included several significant divestitures. Arguably the most noteworthy has been J.M. Smucker’s announcement that it’s selling most of its pet food and treat brands, including iconic names like 9Lives, Kibbles n’ Bits and Gravy Train. The company is keeping only two high-performing brands, Milk-Bone and Meow Mix, plus its private label pet food business.
That Smucker sold the other brands to Post Holdings, another human food conglomerate, adds an additional element of interest. Soon after that sale, BRF, one of the world’s largest producers of poultry and other meats, announced it is selling its pet food brands less than two years after acquiring them, in mid-2021.
