Candy conglomerate Mars buys 800 animal hospitals for $9.1B, including 1 in the Triad
Sep 14, 2017
Mars Inc., like rival Nestle USA, is so much more than candy. Virginia-based Mars on Sept. 12 announced its successful acquisition of VCA Inc. and its 800 small veterinary hospitals in the United States and Canada, its animal diagnostic imaging company and its doggy day care and overnight camp franchise, Camp Bow Wow. VCA has one location in the Memphis-area and five across the state.
Mars, one of the nation's largest privately held companies, paid $93 per share for VCA in a deal valued at $9.1 billion. The acquisition was first announced in January, and Mars received Federal Trade Commission approval in late August. The FTC required Mars to divest of 12 specialty or off-hours emergency animal hospitals out of its portfolio of more than 1,900 in the U.S. and Canada. VCA will operate as a separate business within the Mars Petcare line. Its co-founder, Bob Antin, will continue to lead VCA as CEO and the company will remain headquartered in Los Angeles.
Mars didn't get to $35 billion in annual sales on Mars bars alone. The Mars Petcare line includes Banfield Pet Hospital, Blue Pearl, Pet Partners, Iams, Nutro, Pedigree, Royal Canin and Whiskas, among several others. The company also owns Wrigley gum and candy (Skittles, Life Savers, Starburst, Altoids), Mars Chocolate (3 Musketeers, Snickers, Combos, Dove, Milky Way, M&M's), and other food and drink brands.
In the Triad, VCA has a location in Winston-Salem at 412 Jonestown Rd.
I realize this is old, but I don't recall seeing this before!
Why is a candy company wanting to get into the pet hospital business what do they have in common??