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NEW YORK VMG Partners has sold dog treats maker Waggin' Train to Nestle's Purina PetCare.
The Waggin’ Train snacks business will be a subsidiary of Nestle Purina PetCare in the United States. Financial terms were not disclosed, although some reports have claimed the deal is priced at about $450 million. Waggin’ Train had sales of around $200 million for the 12 months ended in June.
Nestle CEO Paul Bulcke said, “This strategic acquisition is an exciting new growth opportunity for the Nestle Purina PetCare business, which will contribute to Nestle Purina’s continued strong performance.”