Mars has bought pet healthcare company VCA for $93 per share, or a total value of approximately $9.1 billion — including $1.4 billion in outstanding debt.
The deal will see Mars, who is the biggest pet food company in the world, add 800 pet hospitals to its strong network of clinics as well as expand its growing share of the $4 billion pet healthcare market.
Mars Petcare is already an industry leader in pet nutrition with global brands that include Royal Canin, Pedigree and Whiskas. The company also includes pet DNA testing through the Wisdom Panel and Whistle.
“We are thrilled to welcome VCA to the Mars family and to our portfolio of brands and businesses around the world,” said Mars chief executive officer Grant Reid.
“VCA is a leader across pet health care and the opportunity we see together — for pets, pet owners, veterinarians and other pet care providers — is tremendous. Together, we will be able to provide even greater value, better service and higher quality care to pets and pet owners.”
VCA chief executive officer Bob Antin said joining the Mars family provides significant value to the company’s stakeholders, while preserving company values.
“Mars has a long-standing commitment to pet health, wellness and nutrition. We will work together every day to continue to provide the quality care and excellent service VCA is known for to our clients and their pet families,” Antin further added.