To Press Releases listVevey, Switzerland,Sep 10, 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.
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