Feb 23, 2018
General Mills accelerates portfolio reshaping with acquisition of Blue Buffalo Pet Products
Acquisition establishes General Mills as the U.S. leader in wholesome natural pet food
MINNEAPOLIS, Minnesota and WILTON, Connecticut – General Mills, Inc. (NYSE: GIS) and Blue Buffalo Pet Products, Inc. (NASDAQ: BUFF) today announced that they have entered into a definitive agreement under which General Mills will acquire Blue Buffalo for $40.00 per share in cash, representing an enterprise value of approximately $8.0 billion. The transaction establishes General Mills as the leader in the U.S. Wholesome Natural pet food category, the fastest growing portion of the overall pet food market, and accelerates its portfolio reshaping strategy.