Money Nestle in talks to buy Champion Petfoods for $2.6 billion: report

23:06  03 july  2018
23:06  03 july  2018 Source:   edmontonjournal.com

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Journal Report . Business Podcast. Tech. Nestlé SA is in talks to acquire a majority stake in Canada’s Champion Petfoods for more than $ 2 billion , according to people familiar with the matter, as the consumer- food giant boosts investment in higher growth businesses to help offset its

Champion Petfoods — Maker of award-winning Biologically Appropriate™ ORIJEN and ACANA dog and cat foods — learn more about us and where to buy our foods !

070318-petFood176© Bruce Edwards

Nestle is trying to buy control of Edmonton-based Champion Petfoods for more than $2.6 billion, according to a report in the Wall Street Journal.

The article, citing unnamed sources familiar with the matter, says the global food giant is in talks to purchase a majority share of the specialty maker of dog and cat food, although the negotiations could break down before a deal is reached.

Champion officials couldn’t be reached Tuesday, but in a statement the company declined to comment on what it called “speculation in the market.”

“Rumours about Champion being sold have been circulating over the past few years and will continue for as long we deliver on our promise to make the world’s best pet food under our ACANA and ORIJEN brands,” the statement says.

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Nestlé is in talks to acquire a majority stake in Canada’s Champion Petfoods for more than $ 2 billion , according to people familiar with the matter, as the consumer- food giant boosts investment in higher growth businesses to help offset its struggling packaged- foods operations.

Champion Petfoods . 14,283 likes · 106 talking about this. Makers of the World's Best Petfood — ORIJEN & ACANA. Biologically Appropriate™ pet foods from

“Champion Petfoods continues to be privately held with investment from our Canadian partner, (Toronto’s) Bedford Capital, and our vision remains — build trust with pet lovers everywhere.”

The company announced in 2017 it was building a 37,000-square-metre kitchen in Parkland County’s Acheson Industrial Park on Edmonton’s western border that would greatly expand its production capacity.

The site was expected to cost more than $263 million.

Chief executive Frank Burdzy said at the time there wasn’t enough room to expand the existing Morinville facility, but the site would continue current output and could add other products.

The firm has a small operation in Oakville, Ont., and a production kitchen in Auburn, Ky., that opened in 2016 to serve the American market.

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Nestle is buying Canadian vitamin maker Atrium Innovations for $ 2 .3 billion , expanding its presence in consumer healthcare as it seeks to offset weakness in packaged foods . Reporting by Martinne Geller; Editing by David Evans, Greg Mahlich.

Where To Buy . Summary: As the maker of ORIJEN and ACANA dog and cat foods, Champion developed this paper to: discuss the source of heavy metals in pet foods ;publish the maximum tolerable limits (MTLs) for dogs and cats; and discuss the results in comparison to animal health to

The company has a total of 550 employees and sells its products in more than 80 countries.

It was founded in 1975 by Reinhard Muhlenfeld, a German immigrant who bought a feed mill in Westlock with other investors and later expanded to Barrhead.

Class action lawsuits were filed against Champion in March in California, Wisconsin and other states alleging its dog food contains levels of heavy metals and toxins that might make the food unsafe, and this was not disclosed.

The company says its products are safe, none has been recalled and describes the claims as baseless.

It has filed to have the lawsuits dismissed.

gkent@postmedia.com

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