gener8tor Alumni Pretty Litter Acquired by Mars for Under $1 Billion
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 a statement, declining to comment on the price.
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originally published in Bloomberg News, on September 7, 2021
written by Crystal Tse and Kiel Porter