The sale of several pet food brands by J.M. Smucker Co. to Post Holdings Inc. has officially closed, according to a release from J.M. Smucker. The divestiture includes the Rachael Ray Nutrish, 9Lives, Kibbles 'n Bits, Nature's Recipe and Gravy Train brands as well as the Smucker’s private-label pet food business, at a value of approximately $1.2 billion.
Smucker entered into an agreement for the transaction in February of this year — a sale that also includes manufacturing and distribution facilities in Bloomsburg, Pa., and manufacturing facilities in Meadville, Pa., and Lawrence, Kan. In addition, a group of employees are transitioning to Post Holdings to support the business.
J.M. Smucker announced it will provide further details about the transaction's financial impact to its fiscal 2024 outlook when it reports its fourth quarter fiscal 2023 results in June.