J M Smucker to purchase Ainsworth Pet Nutrition for $1.9bn
Leading US processed foods manufacturer J M Smucker has revealed that it is set to purchase pet food company Ainsworth Pet Nutrition in a deal worth $1.9bn.
The transaction is set to cost $1.9bn, not including an expected $200mn in tax benefits.
Ainsworth Pet nutrition is better known as the owner of the Rachael Ray Nutrish brand – a leading pet food banner within the US market.
“Ainsworth Pet Nutrition is an excellent strategic fit for our Company, as the Rachael Ray Nutrish brand adds another high-growth, on-trend brand to our pet food portfolio,” said Mark Smucker, Chief Executive Officer. “Their team has done a tremendous job growing this business, building Nutrish into one of the most recognizable premium pet food brands in the United States.”
“After five generations, our family, in partnership with L Catterton, made the decision to sell Ainsworth Pet Nutrition to The J M Smucker Company,” said Sean Lang, Executive Chairman of Ainsworth. “We took great care to find the right home for our brands and our people, to whom we are so grateful.”
The Smucker-Ainsworth deal follows a growing trend of processed food manufacturers expanding into the fast-growing pet foods market, current valued at approximately $30bn in the US alone.
A previous example of this was the acquisition of Blue Buffalo pet Products by General Mills in late February for a fee of $8bn.
Jim Donald appointed the CEO of Albertsons
Donald, who previously worked as the company...
The Idaho-based grocery chain, Albertsons, has appointed Jim Donald as its new Chief Executive Officer.
Donald, who previously worked as the company’s President and Chief Operating Officer, will keep his presidential role.
The new CEO will replace Bob Miller, who will continue in his position as Chairman of the Board.
“Jim Donald has built an exceptional career in retail,” remarked Bob Miller.
“His knowledge of our company and industry is unmatched, and I know his contributions will be invaluable as we enter the next chapter of Albertsons Companies.”
“We look forward to tapping his experience in leading large consumer brands as we work every day to meet our customers’ needs, both in-store and online.”
- Read the latest issue of Food Drink & Franchise here
In his career, Donald has held positions such as the CEO of Starbucks and the CEO of Pathmark Stores.
The newly-appoint CEO also worked for Albertsons for 15 years, starting 1976, becoming the Vice President of Operations in Arizona.
“Albertsons Companies is uniquely positioned to operate in both a 'four walls' traditional environment and the 'no walls' world of technology,” stated Jim Donald.
“We serve 34 million customers each week across our 2,300-plus stores and serve 5.5 million patients in our 1,700-plus pharmacies.”
“That's a significant food, health and wellness footprint. We're well positioned to serve the evolving needs of today's customer, wherever and whenever they choose to shop with us.”
“I am looking forward to leading this dynamic company as we focus on innovation and customer-centric retailing in all its forms.”