M&A Deal Summary

General Mills Acquires Tyson Foods’ Pet Treats Business

On May 14, 2021, General Mills acquired food company Tyson Foods’ Pet Treats Business from Tyson Foods for 1.2B USD

Acquisition Highlights
  • This is General Mills’ 16th transaction in the Food sector.
  • This is General Mills’ 4th largest (disclosed) transaction.
  • This is General Mills’ 14th transaction in the United States.
  • This is General Mills’ 1st transaction in Arkansas.

M&A Deal Summary

Date 2021-05-14
Target Tyson Foods’ Pet Treats Business
Sector Food
Buyer(s) General Mills
Sellers(s) Tyson Foods
Deal Type Divestiture
Deal Value 1.2B USD

Target

Tyson Foods’ Pet Treats Business

Springdale, Arkansas, United States
Tyson Foods’ Pet Treats Business is a provider of natural pet treats including the NUDGES, TRUE CHEWS, and TOP CHEWS brands, as well as a production facility in Independence, Iowa.

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Buyer(S) 1

Buyer

General Mills

Minneapolis, Minnesota, United States

website


Category Company
Founded 1866
Sector Food
Employees32,500
Revenue 20.1B USD (2023)
DESCRIPTION
Entrance to General Mills' corporate headquarters in Minneapolis.
Entrance to General Mills' corporate headquarters in Minneapolis.

General Mills is a multinational manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the foodservice and commercial baking industries. General Mills' portfolio includes a wide range of well-known brands such as Cheerios, Yoplait, Betty Crocker, Pillsbury, Haagen-Dazs, Annie's Homegrown, and Nature Valley, among others. The company's products encompass various categories, including cereals, yogurt, snack bars, meal kits, ready-to-eat meals, and frozen desserts. General Mills was founded in 1866 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 17 of 20
Sector (Food) 16 of 18
Type (Divestiture) 3 of 3
State (Arkansas) 1 of 1
Country (United States) 14 of 16
Year (2021) 1 of 1
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-23 Yoplait

Minneapolis, Minnesota, United States

Yoplait provides a range of dairy products. The company has direct operations in countries including France, the United Kingdom, and Canada, and also manages a network of 26 franchisees that license Yoplait brands. Yoplait was founded in 2001 and is based in Minneapolis, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-24 General Mills - European Dough Businesses

Germany

General Mills' European Dough Businesses provides ready-to-bake dough solutions.

Sell -

Seller(S) 1

SELLER

Tyson Foods

Springdale, Arkansas, United States

website


Category Company
Founded 1935
Sector Food
Employees139,000
Revenue 53.3B USD (2022)
DESCRIPTION

Tyson Foods produces, distributes, and markets chicken, beef, pork, prepared foods, and related allied products worldwide. Tyson Foods operates a fully vertically integrated poultry production process. The Company's integrated operations consist of breeding stock, contract growers, feed production, processing, further-processing, marketing and transportation of chicken and related allied products, including animal and pet food ingredients. Tyson also processes live fed cattle and hogs and fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, case ready beef and pork and fully-cooked meats. Finally, Tyson produces a wide range of fresh, value-added, frozen and refrigerated food products. Tyson Foods was founded in 1935 and is based in Springdale, Arkansas.


DEAL STATS #
Overall 6 of 7
Sector (Food) 5 of 6
Type (Divestiture) 5 of 6
State (Arkansas) 2 of 2
Country (United States) 5 of 6
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-20 Keystone Foods

West Chester, Pennsylvania, United States

Keystone Foods LLC is a global manufacturer of protein products and a custom foodservice distributor, primarily to the quick services restaurant industry in the U.S., Europe, Asia and Latin America. The company operates 54 facilities in 13 countries that serve approximately 31,000 restaurants worldwide. In the United States, Keystone is the largest provider of chicken and beef products, the second largest provider of fish products and the third largest distributor to the McDonald’s System. Other key accounts for Keystone include YUM! Brands, ConAgra, and Quizno’s.

Buy $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-20 Williams Sausage

Union City, Tennessee, United States

Williams Sausage provides fresh and fully cooked sausage, bacon, and sandwiches to retail and foodservice customers. Williams Sausage is based in Union City, Tennessee.

Buy -