M&A Deal Summary

Mars Acquires Champion Petfoods

On November 1, 2022, Mars acquired consumer products company Champion Petfoods from Bedford Capital Management

Acquisition Highlights
  • This is Mars’ 2nd transaction in the Consumer Products sector.
  • This is Mars’ 1st transaction in Canada.
  • This is Mars’ 1st transaction in Alberta.

M&A Deal Summary
Date 2022-11-01
Target Champion Petfoods
Sector Consumer Products
Buyer(s) Mars
Sellers(s) Bedford Capital Management
Deal Type Add-on Acquisition
Advisor(s) Morgan Stanley (Financial)
Torys LLP
Bennett Jones (Legal)

Target

Champion Petfoods

Edmonton, Alberta, Canada
Champion Petfoods is a Canadian specialty pet food manufacturer. Champion Petfoodss proprietary Orijen and Acana formulations use fresh and regional ingredients to produce biologically appropriate pet foods that are sold in more than 45 countries. Champion Petfoods is based in Edmonton, Alberta.

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Buyer(S) 1

Buyer

Mars

McLean, Virginia, United States
Category Company
Founded 1911
Sector Food
Revenue 33.0B USD (2015)
DESCRIPTION

Mars is a global manufacturer of confectionery, pet food, and other food products and a provider of animal care services. Mars was established in 1911 and is headquartered in McLean, Virginia.

DEAL STATS #
Overall 15 of 22
Sector (Consumer Products) 2 of 2
Type (Add-on Acquisition) 14 of 18
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 KIND Snacks

New York, New York, United States

KIND Snacks markets and sells a brand of nutritional bars under the KIND and KIND Plus brand names to natural and mainstream retailers nationwide. KIND has a family of more than 100 snacks that offer solutions for a variety of occasions. All of KIND’s products lead with a nutrient-dense first ingredient – whole nuts, whole grains or whole fruit – and do not contain genetically engineered ingredients, sugar alcohols or artificial sweeteners.

Buy $5.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Tru Fru

Valley City, Utah, United States

Tru Fru brings together nature’s fruit with real chocolate using unique products that have won numerous industry awards for taste, novelty, and fresh perspective. Tru Fru is based in Valley City, Utah.

Buy -

Seller(S) 1

SELLER

Bedford Capital Management

Toronto, Ontario, Canada

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 100M CAD
Size Small
Type Sector Agnostic
DESCRIPTION

Bedford Capital is a private equity firm focused on investing in lower middle-market companies operating within a short drive of Toronto. Bedford targets investments of $5 to $15 million in businesses with $2 to $15 million of EBITDA. The Firm prefers majority positions, but will consider select minority investments. Prospective transaction situations include acquisition financings, growth financings, generational transfers of ownership, divestitures, consolidations, and take-privates. Beford avoids investing in real estate, early stage companies, and investments solely requiring debt capital. Bedford Capital was formed in 1982 and is based in Toronto.

DEAL STATS #
Overall 4 of 4
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Alberta) 1 of 1
Country (Canada) 4 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-10 Maple Treat

Montreal, Quebec, Canada

Maple Treat is a bottler of branded and private label maple syrup company. Maple Treat also sells maple syrup-related products including cookies, maple sugar and maple butter. Maple Treat was founded in 1975 and is based in Montreal, Quebec.

Sell -
Mergr

Product

Company

Legal