General Mills Acquires Whitebridge Pet Food for $1.45 Billion

(Bloomberg) -- General Mills Inc., known for cereal brands such as Cheerios, made its fifth acquisition in the pet food sector since 2018 by buying the North American unit of Whitebridge Pet Brands in a deal valued at $1.45 billion.

The division, which includes the Tiki Pets and Cloud Star portfolio of brands, generated about $325 million in US sales over the past 12 months, General Mills said in a statement.

General Mills is acquiring the unit from NXMH, a Belgium-based private equity firm that will retain Whitebridge’s European division. The deal will be funded with cash on hand and new debt and is expected to close in the third quarter of fiscal 2025, General Mills said.