Faegre Drinker represented leading global food company General Mills in its acquisition of Tyson Foods’ pet treats business, which includes the Nudges, Top Chews and True Chews brands. The $1.2 billion transaction provides an estimated tax benefit of $225 million to General Mills, equating to an effective purchase price of $975 million. As part of the acquisition, General Mills is also acquiring a manufacturing facility in Independence, Iowa. Closing of the deal is subject to regulatory approval and other customary closing conditions.
The Faegre Drinker deal team advising General Mills includes corporate partners Morgan Burns and Brandon Mason, associate Ashley Dorman and legal clerk Remington Shepard.
Headquartered in Minneapolis, Minn., General Mills makes and sells market-leading consumer packaged goods brands including Cheerios, Annie's, Yoplait, Nature Valley, Häagen-Dazs, Betty Crocker, Pillsbury, Old El Paso, Wanchai Ferry, Yoki, BLUE and more.
Read General Mills’ press release for more information on the deal.