Post Consumer Brands has announced it will acquire Perfection Pet Foods, a California-based private label pet food maker, and its two manufacturing plants. Post will pay $235 million to buy the company and it will be consolidated into its large Lakeville-based Post Consumer Brands unit.
The company’s latest move adds to Post's growing stable of pet food options. Earlier this year, the company paid over $1bn for Kibbles ‘n Bits and Rachel Ray’s Nutrish pet food brands.
"This acquisition highlights our commitment to growing our pet business by expanding our business model into private label and co-manufacturing production," Nicolas Catoggio, CEO of Post Consumer Brands, said in a statement. "We're also happy to welcome more than 250 employees to the Post Consumer Brands team."
U.S. pet owners are expected to spend nearly $63 billion on pet food and treats this year, according to the American Pet Products Association, an 8% increase from 2022.