Mars Is Said to Acquire PrettyLitter for Under $1 Billion
(Bloomberg) -- Consumer products giant Mars Inc. has agreed to acquire cat litter company PrettyLitter Inc., according to people with knowledge of the matter.
The packaged food and pet care products owner is paying $500 million to $1 billion for the direct-to-consumer brand, the people said, asking not to be identified discussing private information.
Mars’ pet-care division agreed to buy the company in May, according to a representative for the company.
“Mars Petcare’s unmatched scientific expertise and decades of experience are a perfect complement to PrettyLitter’s cutting-edge technology and capabilities,” the representative said in statement, declining to comment on the price.
A representative for PrettyLitter didn’t respond to requests for comment.
Mars, one of the world’s largest private companies, has been expanding its footprint in pet products and services over the past few years as millennials show more willingness to spend on their pets.
Last year, it acquired Veterinary Specialty Hospital of Hong Kong Ltd., an emergency health services provider for animals, for undisclosed terms, according to data compiled by Bloomberg.
PrettyLitter’s products are designed to react to a cat’s urine to indicate potential health problems by changing color, according to the company’s website. Customers can subscribe and pick the frequency of product delivery.
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