The J. M. Smucker Company has signed a definitive agreement to purchase Ainsworth Pet Nutrition, LLC, an all-cash transaction valued at approximately $1.7 billion, after an estimated tax benefit of $200 million. Ainsworth produces, distributes and markets premium pet food and pet snacks, with about two-thirds of its sales generated by the company's Rachael Ray Nutrish brand.
Smucker estimates the acquisition of Ainsworth will contribute net sales of approximately $800 million in the first full year after the transaction closes, which is expected happen, subject to customary closing conditions, early in Smucker’s fiscal year that begins May 1, 2018.
