While the word “Smucker’s” surely conjures up visions of jellies and jams pairing up with peanut butter, the company behind Smucker’s, Jif and Folge’s coffee is making a foray into the pet food business, buying Big Heart Brands in a $5.8 billion acquisition. Milk-Bone filled with strawberry jam, anyone?
It’s doubtful that J.M. Smucker will create any brand mashups — though we’re sure Fido might find a jelly doughnut treat of his own quite appealing — the company announced Tuesday that it would buy the pet food company formerly known as Del Monte from its private equity owners, reports the New York Times.
The deal is Smucker’s biggest ever, and will bring in brands like Milk-Bone, Kibbles ’n Bits and Meow Mix. The CEO of Smucker’s, a great-grandson of founder J.M. Smucker, calls the move as one of the most transformational in the company’s history, beating out even its$3.3 billino buy of Folgers five years ago.
“It’s not uncommon at all for leaders in the industry to be in human food and pet food,” Smucker said, pointing to other food giants like Mars that own large pet divisions. “Pet food is one of the fastest-growing areas in the center of the store.”
Seriously though — dogs love peanut butter, and dogs love treats, so… It’s just so easy.
Smucker to Buy Big Heart Pet Brands for $5.8 Billion [New York Times]
by Mary Beth Quirk via Consumerist
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