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In a company release, Tyson Foods announced sale of their pet treat business to General Mills for $1.2 billion. The cash transaction includes a manufacturing facility in Iowa. The pet treat business generated $240 million in net sales for fiscal 2021 including brands Nudges™, Top Chews™, and True Chews™ brands.
Bethany Quam, Group President for the Pet Segment at General Mills stated, "pet food is a high-growth category fueled by the humanization of pets, a trend that has only increased during the pandemic". She added, "by adding these trusted pet treat products to our portfolio we are strengthening our position in this attractive category".
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