M&A Deal Summary

Mars Acquires Heska

On April 3, 2023, Mars acquired medical products company Heska

Acquisition Highlights
  • This is Mars’ 1st transaction in the Medical Products sector.
  • This is Mars’ 13th transaction in the United States.
  • This is Mars’ 1st transaction in Colorado.

M&A Deal Summary
Date 2023-04-03
Target Heska
Sector Medical Products
Buyer(s) Mars
Deal Type Add-on Acquisition
Advisor(s) BofA Securities
Piper Sandler & Co. (Financial)
Gibson, Dunn & Crutcher (Legal)

Target

Heska

Loveland, Colorado, United States
Heska sells, manufactures, markets, and supports diagnostic and specialty products and solutions for veterinary practitioners. The company's portfolio includes point-of-care diagnostic laboratory instruments and consumables including rapid assay diagnostic products and digital cytology services; local and cloud-based data services; practice information management software (“PIMS”) and related software and support; reference laboratory testing; allergy testing and immunotherapy; heartworm preventive products; and vaccines. Heska’s primary focus is supporting companion animal veterinarians in providing care to their patients. Its business is composed of two operating and reportable segments: North America and International. North America consists of the United States, Canada, and Mexico. International consists of geographies outside of North America, primarily in Germany, Italy, Spain, France, Switzerland, Australia and Malaysia. Heska’s strategic focus on point-of-care diagnostic laboratory products is included in both segments. The North America segment also includes the contract manufacturing of vaccines and pharmaceutical products and a small veterinary laboratory, and the international segment includes PIMS business and veterinary laboratories. Heska was founded in 1988 and is based in Loveland, Colorado.

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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 17 of 22
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 16 of 18
State (Colorado) 1 of 1
Country (United States) 13 of 15
Year (2023) 1 of 3
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-05 Kevin’s Natural Foods

Stockton, California, United States

Kevin’s Natural Foods develops and manufactures a full line of healthy, refrigerated sous vide meat entrées and vegetable sides, and a complementary line of sauces and seasonings. Kevin’s Natural Foods offers a wide array of recipes and flavours across its product line-up, and all offerings contain no refined sugar or artificial ingredients and are certified paleo, keto, and gluten-free. Its sous vide preparation process enables customers to cook restaurant quality, healthy meals in minutes, allowing the busiest people to eat clean without sacrificing flavour. Kevin’s Natural Foods was formed in 2014 and is based in Stockton, California.

Buy -
Mergr

Product

Company

Legal