And always remember to spay and neuter!
Posted on 01/09/2017 2:41:45 PM PST by BenLurkin
The deal calls for Mars to pay $93 for each of VCA’s shares and to assume VCA’s $1.4 billion in debt. VCA’s stock — whose ticker symbol is WOOF — soared $20.02, or 28%, to close at $90.79 a share in trading Monday.
“VCA is a leader across pet healthcare and the opportunity we see together — for pets, pet owners, veterinarians and other pet care providers — is tremendous,” Mars Chief Executive Grant Reid said in a statement.
The deal was approved by both companies’ directors, but remains subject to approval by VCA’s stockholders. It is expected to be completed in this year’s third quarter.
Mars, which is based in McLean, Va., and has $35 billion in annual sales, is the privately held maker of such candy brands as M&M’s, Snickers, Milky Way, Skittles, Dove chocolate and Wrigley’s gum.
The century-old company also has a major pet-care unit whose pet food brands include Pedigree, Whiskas and Sheba. It owns Banfield Pet Hospitals, many of which are in PetSmart Inc. retail locations.
“We simply believe Mars ... found VCA to be an attractive long-term asset, and we would expect the two businesses to complement one another quite nicely,” analyst Nicholas Jansen of the investment firm Raymond James & Associates said in a note to clients.
In a memo to its employees, VCA said it would remain based in Los Angeles and continue to operate under the VCA name as part of Mars.
(Excerpt) Read more at latimes.com ...
is their pet food going to be made of chocolate bars?
Other way around, chocolate covered pedigree bites.
Don’t know if too many dogs will eat chocolate flavored Pedigree.
They might do so once. Given what chocolate might do to their livers it would probably be the only time.
I’m glad they beat out Panda Express in the bidding war.
Chocolate is poison for most dogs.
Pedigree, Whiskas and Sheba are not much better.
Mar’s has had a pet food division for a long time. It’s only a few miles from here.
I hear it’s an interesting place to work. You can bring your pets with you as long as they are well behaved. And candy bars are free.
I guess the pet food division has decided to branch into veterinary services.
American made Animal Crackers or are we exporting dogs to Korea?
American made Animal Crackers or are we exporting dogs to Korea?
Heh.
Over 40% of Mars is pet related.
A chocolate bar company, operating a chain of animal hospitals...
Good for business!
No, our chocolate bars will be made of pets.
A few Christmases ago, our Golden helped himself to a whole bag of Hershey Kisses, which he devoured foil wrappers and all. We called animal poison control, who instructed us on how to induce him to vomit. He was fine although he pooped red and green foil for a few days.
Might have been healthier for him than a big mac
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