Diamond Pet Foods is the new owner of the private label business with manufacturing facility in Kansas (US).
J.M. Smucker is only selling the dry pet food part of its business and not the private label wet food operations or any of the branded products.
"This divestiture enables us to focus investments and resources on areas of our pet food and pet snacks business positioned for growth and profitability, including driving category growth in dog snacks, building upon our momentum in cat food—particularly with Meow Mix®, and stabilizing Nutrish® dog food by growing consumer demand," said Rob Ferguson, Sr. Vice President and General Manager, Pet Food and Pet Snacks, The J.M. Smucker Co.
This dry food private label business did approximately $95 million in sales, per year.
The cash transaction is valued at $33 million.
