King and Dog Food Manufacturer Acana announced that they will be selling their King & Dog Food Company to McDonald’s for $2.1 billion in cash and stock.
Acana said that McDonalds’ acquisition of King will create “the world’s largest pet food business.”
The deal includes Acana’s King brand of dog food as well as King’s King Pet Food, King’s dog food, King King’s pet food and King’s frozen dog food.
McDonalds announced that it has also acquired King’s meat and chicken brands as well.
The announcement came in the form of a letter from King CEO Jeff Sullins to McDonald CEO Steve Easterbrook, and came in a press release.
“King has a proven track record of delivering world-class food to consumers, and we look forward to joining forces with McDonalds to bring the full power of McDonalds in our home kitchens,” Sullinson wrote.
“Our partnership with McDonald’s will enable us to bring our expertise to bear on expanding the brand’s reach and improving our food offerings to meet our customers’ needs.”
King said that the deal will create an even stronger and more sustainable pet food company and the company will “focus on growing the global market for pet food products through acquisitions.”
The company’s new owners will be able to continue to pursue their focus on providing pet food to pet owners worldwide.
King’s King > Dog &.; Food will begin operating as King Dog Food on July 1, 2021.
King is the world’s fourth-largest pet food maker behind Nestlé and Kellogg’s.
King also sells other pet food brands, including King’s Pet Food and King King Pet Chow, as well some chicken and chicken-related brands, like King’s Chicken Chow and King Chicken Chow.
King said in a statement that the new acquisition is a “significant investment in the pet food industry and the world at large.”
“The new partnership will deliver the company’s leadership in pet food for the pet market in an industry that is rapidly evolving,” King said.
“As the industry continues to evolve, the value of the company-owned brands and brands that we sell will continue to grow, while the overall health and wellbeing of our pets and the people who depend on them will continue.”