by Morinville News Staff
Champion Petfoods says they are not prepared to respond to speculation the company may be bought out by Nestlé.
The speculation stems from a July 2 Wall Street Journal article that indicates Nestlé is in talks to buy the global pet food manufacturer for $2 billion.
In the Globe article, writers Ben Dummett, Dana Mattioli and Dana Cimilluca indicate the alleged Nestlé move is to acquire “higher-growth businesses to help offset its struggling packaged-foods operations.”
In a Facebook post on their corporate page, Champion Petfoods says it is not company policy to comment on market rumours or speculation.
“Rumours about Champion being sold have been circulating over the past few years and will continue for as long we deliver on our promise to make the world’s best pet food under our ACANA and ORIJEN brands,” the post reads, adding Champion Petfoods continues to be privately held with investment from their Canadian partner, Bedford Capital.
Nestlé is currently the owner of the Purina pet food brand.