Simmons Pet Foods agrees to buy Menu Foods Ltd.
August 10, 2010
SILOAM SPRINGS, ARK. – Simmons Pet Food Inc., a business unit of Simmons Foods Inc., has agreed to acquire Menu Foods Limited from Menu Foods Income Fund of Toronto for approximately $239 million.
On Sept. 10 the fund’s shareholders will vote to accept or reject the deal. Should all go as expected, the companies expect to close the deal early in the fourth quarter of 2010.
“With this transaction, we are adding one of North America’s leading private-label pet food manufacturers to our portfolio and further strengthening our company,” said Mark Simmons chairman of Simmons Foods Inc.
Simmons core business is a vertically integrated chicken business that provides private-label chicken to national restaurants and mass merchandisers. It also operates Simmons Feed Ingredients, a supplier of dry feed ingredients for dairy, cattle, aquaculture and pet food manufacturers. Overall annual sales for the company exceed $1 billion.