March 29, 1996|By BLOOMBERG BUSINESS NEWS
PITTSBURGH — H. J. Heinz Co. said bygone that it has acquired essentially all of the assets of Earth Elements Inc., a Corona, Calif., banker of all-natural pet foods with anniversary sales of added than $50 million.
Terms weren’t disclosed.
Earth Elements distributes articles awash beneath the cast name Nature’s Recipe Pet Food, the fourth-largest cast in the fast-growing $1.4 billion specialty pet foods category, Pittsburgh-based Heinz said.
“Nature’s Recipe is a exceptional pet aliment band that will acquiesce us to added body our business in the specialty pet aliment channels: pet stores, augment aliment and veterinary clinics,” said Heinz Chairman and Chief Executive Anthony O’Reilly.
Earth Elements was founded in 1981 and has about 70 employees.
The architect of Earth Elements, Jeffrey Bennett, will accompany Heinz as admiral of the new Nature’s Recipe Division, Heinz said.
The Nature’s Recipe Pet Aliment band offers all-natural cat and dog foods in dry and canned forms and additionally sells biscuits and dog treats.
Earth Elements’ articles are fabricated by added pet-food producers beneath packing agreements, Heinz said.
The accretion follows an advertisement aftermost anniversary that Heinz agreed to access a majority pale in Alimentos Pilar SA, Argentina’s third-largest pet aliment producer. Terms of that transaction weren’t disclosed.
Although Heinz is accepted for authoritative ketchup and condiments, pet aliment has become one of its better and fastest-growing businesses, with anniversary sales of added than $1 billion.
In the better accretion in the company’s history, Heinz paid $725 actor aftermost March to access Quaker Oats Co.’s pet aliment units in the United States and Canada.
Heinz shares fell 50 cents bygone to $33.25. The aggregation appear the accretion afterwards the markets closed.
Pub Date: 3/29/96