Mars. Inc. plans to acquire pet food company Nom Nom, Bloomberg reports.
“We are confident that this acquisition will bring synergies to keep supporting their success in the fresh category while complementing our existing portfolio,” a Mars representative told the news organization in a statement.
Financial terms of the agreement were not disclosed. In a headline, Bloomberg described it as a “$1 billion deal.”
Nom Nom, a direct-to-consumer brand, will be part of the Royal Canin division of Mars. Bloomberg reports that it will operate autonomously.
The Nashville, TN-based Nom Nom states on its website that its ingredients “come from trusted and reliable U.S. growers and suppliers” and that its products are prepared in the U.S. It also notes that “whenever possible, our food is sustainably-sourced and we work hard to ensure zero food waste in our facilities.”
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