Headlines General Mills to Buy Blue Buffalo in $8B Deal Published 3 years ago on February 26, 2018 By PETS+ Staff Share Tweet The deal is expected to close this fiscal year. MINNEAPOLIS and WILTON, CT — General Mills Inc. will acquire Blue Buffalo Pet Products Inc. in an $8 billion deal, the companies announced. “The transaction establishes General Mills as the leader in the U.S. Wholesome Natural pet food category, the fastest growing portion of the overall pet food market, and accelerates its portfolio reshaping strategy,” according to the release. General Mills will pay $40 per share in cash for Blue Buffalo. Founded in 2002, Blue Buffalo is the fastest-growing major pet food company making natural foods and treats for dogs and cats, according to the release. Advertisement “The addition of BLUE to our family of well-loved brands provides General Mills with the leading position in the large and growing Wholesome Natural pet food category and represents a significant milestone as we reshape our portfolio to drive additional growth and value creation for our shareholders,” said Jeff Harmening, General Mills’ chairman and CEO. Billy Bishop, CEO of Blue Buffalo, said: “I have been impressed by General Mills’ strong track record of accelerating growth for its natural and organic brands, while giving them the freedom to maintain their own unique culture and identity. General Mills will be a tremendous home for our BLUE brand as our talented team of over 1,700 ‘Buffs’ joins this new extended family.” The transaction, which has been approved by the boards of directors of General Mills and Blue Buffalo, is subject to regulatory approvals and other customary closing conditions. It is expected to close by the end of General Mills’ fiscal 2018. Related Topics:acquisitionBlue Buffalo click to Comment(Comment) Advertisement You may like BrightPet Acquires MiracleCorp Pawzitivity Pet Products Makes 5th Acquisition of 2020 J.M. Smucker to Sell Off Natural Balance in $50M Deal Promoted Headlines Let’s Hear it for the Comfort Zone Tall Tails Category Spotlight: Terry Naturally® Animal Health Category Spotlight: eTailPet Advertisement Latest Trending Videos Press Releases1 day ago Two Companies from Bend Oregon Team Up for the 2021 Stage Stop Sled Dog Race Press Releases1 day ago New Tiki Cat Grill Pate Wet Cat Food Features Real Fish & Seafood Recipes in Broth Press Releases1 day ago Choice Pet Products Welcomes New Territory Manager to the Team Headlines4 days ago Open Farm Receives $65M in Private Equity Investment Photo Gallery1 week ago How Indie Pet Stores Are Celebrating — and Selling — Valentine’s Day Press Releases1 week ago Lightspeed Launches Supplier Network for Independent Retailers Trace's Store School2 months ago Video: Trace’s Store School: How to Build Community — and Grow Revenue — with Other Businesses Trace's Store School2 months ago Video: Trace’s Store School: Get Ready for Black Friday and Small-Business Saturday Trace's Store School2 months ago Video: Trace’s Store School Teaches You How to Start a Produce Co-Op for Pets Advertisement SubscribeBULLETINS Get the most important newsand business ideas from PETS+. Advertisement Most Popular Headlines4 days ago Open Farm Receives $65M in Private Equity Investment Photo Gallery1 week ago How Indie Pet Stores Are Celebrating — and Selling — Valentine’s Day Press Releases1 week ago Lightspeed Launches Supplier Network for Independent Retailers Columns1 week ago Shelf Appeal: 5 Things to Consider When Choosing Products for Your Pet Store Hot Sellers1 week ago Holiday Toys, Bird Perches and Spa Treatments Among the Hot Sellers for November Headlines5 days ago Mars Petcare Plans $145M Expansion in Arkansas Press Releases1 week ago Coastal Pet Institutes Authorized Seller Policy Ask PETS+1 week ago What Do You Do When Employees from Other Pet Stores Come Into Your Store?