Nestlé in Talks to Buy Pet-Food Maker for $2 Billion - Wall Street Journal

Nestlé in Talks to Buy Pet-Food Maker for $2 Billion - Wall Street Journal

Nestlé SA is angling to take control of Canada’s Champion Petfoods for more than $2 billion, according to people familiar with the matter, as the consumer-goods giant seeks out higher-growth businesses to help offset its struggling packaged-foods operations.

Nestlé is in talks to acquire a majority stake in the closely held maker of specialty cat and dog food, whose owners include Toronto buyout firm Bedford Capital. The talks, however, could still break down before a deal is completed.

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