Nestlé to acquire dog snacks business in the United States
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Nestlé S.A. / Nestlé to acquire dog snacks business in the United States processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Vevey, 10 September 2010 - Nestlé today announced that it has agreed to acquire
the Waggin' Train dog snacks business in the United States. Waggin' Train is a
leading marketer in the fast growing real-meat dog snacks segment
(http://www.waggintrainbrand.com).
The Nestlé Purina PetCare Company has delivered excellent results over the
years, not least due to a holistic approach to pet care, a strong innovation
pipeline and a sustained focus on providing healthy, nutritious and palatable
food for pets. Within the pet care industry, the dog snacks category has enjoyed
higher than average growth, and Waggin' Train has been the segment's fastest
growing leading brand with annual growth rates of around 30% over the last three
years. Waggin' Train is therefore a natural complement to Nestlé Purina's
existing business, enabling it to enter the attractive and profitable real-meat
dog snack segment. Waggin' Train had sales of around USD 200 million for the
twelve months ending June 2010.
Nestlé CEO Paul Bulcke: "This strategic acquisition is an exciting new growth
opportunity for the Nestlé Purina PetCare business, which will contribute to
Nestlé Purina's continued strong performance."
The Waggin' Train snacks business will be a subsidiary of the Nestlé Purina
PetCare Company in the United States. W. Patrick McGinnis, Chief Executive
Officer of Nestlé Purina PetCare Company, added, "Importantly, this acquisition
will fill a gap in our dog treat product portfolio, will provide a new growth
platform and bring new consumers to the Nestlé Purina business."
The transaction has received U.S. regulatory approval and is expected to be
completed by the end of September. Other details of the transaction, including
the acquisition price, are not disclosed.
Contacts
International Media Robin Tickle Tel.: +41 (0)21 924 22 00
US media Keith Schopp Tel.:+ 1 314 982 2577
Investors Roddy Child-Villiers Tel.: +41 (0)21 924 36 22
[HUG#1443896]
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Datum: 10.09.2010 - 18:01 Uhr
Sprache: Deutsch
News-ID 42138
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