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.
...