New rumours about Champion Petfoods

The Canadian pet food manufacturer Champion Petfoods is exploring options including a potential sale, according to Bloomberg. An acquisition could value the company at more than 2 bn dollars a few years after its last takeover talks, say those with knowledge of the matter. 

The company, based in Edmonton, Alberta, is working with an adviser on the planned process, according to sources who wished to remain anonymous. Deliberations are reportedly at an early stage and may not lead to a transaction. A representative of Champion Petfoods declined to comment.

Pet food, viewed as a recession-proof business, has seen a boom as pet ownership ballooned during the Covid pandemic. The number of financial investors getting involved in companies in the pet sector has also increased.

Nestlé approached Champion Petfoods in 2018 to acquire a majority stake for 2 bn dollars, according to reports in the Wall Street Journal and Financial Times. Nestlé, through its pet division Purina, is one of the largest manufacturers of pet supplies.