Tyson Foods Inc. is selling its successful pet treats business to General Mills Inc. for approximately $1.2 billion, the company announced. The sale of the business, a leading player in natural pet treats, is expected to be completed by the end of the company’s 2021 fiscal year, subject to regulatory approval and other customary closing conditions. It includes the Nudges, True Chews and Top Chews brands, as well as a production facility in Independence, Iowa. Tyson Foods will continue to provide meat ingredients for the pet treats business after General Mills assumes ownership.
“We’re proud of the tremendous success of this business and the diligent work by our team to meet growing demand for high quality pet treats,” said Noelle O’Mara, group president of Prepared Foods for Tyson Foods. “We believe the time is right to transition these great brands to an established pet foods business where they will complement their existing portfolio.”