Mars to Acquire PrettyLitter in Deal Worth Over $500M: Report

Bloomberg reports that Mars Petcare is preparing to acquire PrettyLitter Inc., which makes litter products with health-monitoring properties.

The price tag on the deal is between $500 million and $1 billion, according to the news outlet, which cited unnamed sources.

The companies reportedly agreed to the acquisition in May.

Bloomberg notes that Mars has been “expanding its footprint in pet products and services over the past few years.”

In January the company announced plans for a $145 million expansion of its manufacturing facility in Fort Smith, AR.

PrettyLitter changes color to indicate when a cat has certain potential health issues, according to the company’s website.

Read more at Bloomberg