i-Tail completes $160 million Phelps Pet Products acquisition

i-Tail Corp. (ITC) has completed its acquisition of Phelps Industries LLC, commonly known as Phelps Pet Products, for an enterprise value of $160 million.

The company said the acquisition of the U.S.-based manufacturer expands i-Tail’s presence in treats and specialty pet nutrition. Phelps specializes in dog nutrition and produces air-dried foods and jerky-style pet treats, while i-Tail is focused on premium wet cat food.

The deal also establishes a manufacturing presence for i-Tail in its largest market, adds to its supply network and brings a customer base across multiple retail and distribution channels.

Roy Chan, CEO, i-Taili-Tail“As pet owners increasingly treat their pets as family, demand continues to grow for a wider range of treats, snacks and innovative pet food solutions,” said Roy Chan, CEO of i-Tail. “Phelps is a strong strategic fit for i-Tail, bringing differentiated products, expertise and market capabilities that complement our strengths and deepen our presence in one of the world’s largest pet food markets. This acquisition marks an important milestone in our growth journey, supporting our aspirational target of reaching up to $1.5 billion in annual revenue by 2030 while creating long-term value for our customers, pet parents and shareholders.”

Pet treats accounted for 20% of i-Tail’s total pet food sales in the first half of 2026. The company attributed growth in the category to pet owners’ desire to connect more closely with their pets and rising demand for treats with functional benefits. i-Tail launched more than 400 new products from January to June.

Pet treats remain an important growth driver for i-Tail, representing 20% of total pet food sales in the first half of 2026. i-TailFounded in 1966, Phelps Pet Products is a U.S. contract manufacturer of clean-label, protein-first pet treats and specialty pet nutrition products. The company works with retailers and pet food brands in the U.S., Canada and other regions.

Phelps generated $70.3 million in net sales in 2025, with a compound annual growth rate of 25.6% from 2023 to 2025. The company operates manufacturing facilities in Illinois and Wisconsin.

“Joining i-Tail marks an exciting new chapter for Phelps’ customers, employees and vendor partners,” said Rick Ruffolo, CEO and president of Phelps Pet Products. "Both companies have a decades-long history of serving the pet industry, being leaders in certified sustainable manufacturing and sourcing practices, and providing innovative products to our customers. 

"Combining our experience in the North American market with i-Tail’s global reach and expertise in pet nutrition, we can broaden our collective product offerings through cross-selling and exploring opportunities in new categories, which will enable our respective customers to innovate and grow market share," he added.

According to Petfood Industry's Top Pet Food Companies, i-Tail is a subsidiary of Thai Union Group Public Company Limited, a global seafood producer, with additional operations in pet food. i-Tail manufactures and exports canned tuna and pet food, and subsidiary U.S. Pet Nutrition LLC manufactures and distributes premium pet food. Thai Union Group holds 25 percent ownership of Lucky Union Foods Co. Ltd.