•   
  •   
  •   

Money Nestle in talks to buy Champion Petfoods for $2.6 billion: report

23:06  03 july  2018
23:06  03 july  2018 Source:   edmontonjournal.com

Substance use cost tops $38 billion: report

  Substance use cost tops $38 billion: report The economic cost of substance use in Canada in 2014 was $38.4 billion, or about $1,100 for every Canadian, and came with a staggering toll of 67,515 deaths, says a report released Tuesday. The Canadian Centre on Substance Use and Addiction partnered with the Canadian Institute for Substance Use Research to examine the data and estimate the harms of substance use based on health, justice, lost productivity and other costs.

Nestlé is in talks to acquire a majority stake in Canada’s Champion Petfoods for more than $ 2 billion , as it boosts investment in higher-growth businesses to offset packaged- foods operations. Nestlé is in talks to acquire a majority stake in the closely held maker of specialty cat and dog food

Nestle is trying to buy control of Edmonton-based Champion Petfoods for more than US$ 2 billion , according to a report in The article, citing unnamed sources familiar with the matter, says the global food and beverage giant is in talks to purchase a majority share of the specialty maker of dog and

070318-petFood176© Bruce Edwards

Nestle is trying to buy control of Edmonton-based Champion Petfoods for more than $2.6 billion, according to a report in the Wall Street Journal.

The article, citing unnamed sources familiar with the matter, says the global food giant is in talks to purchase a majority share of the specialty maker of dog and cat food, although the negotiations could break down before a deal is reached.

Champion officials couldn’t be reached Tuesday, but in a statement the company declined to comment on what it called “speculation in the market.”

“Rumours about Champion being sold have been circulating over the past few years and will continue for as long we deliver on our promise to make the world’s best pet food under our ACANA and ORIJEN brands,” the statement says.

Nike fiscal 4Q profit tops forecasts

  Nike fiscal 4Q profit tops forecasts Shares of Nike Inc. jumped in after-market trading Thursday after the sneaker giant posted better-than-expected results. The Beaverton, Oregon-based company said it earned $1.14 billion, or 69 cents per share, in its fiscal fourth quarter. Revenue was $9.79 billion, a 13 per cent rise over the same period a year earlier.

Nestlé , the Swiss food and beverage conglomerate, is in talks to buy a majority stake in Champion Petfoods for $ 2 billion , the Wall Street Journal reported Its products are sold through pet specialty shops and retailers throughout the U.S. and Canada, veterinary clinics in Canada, and distributors in

Nestlé SA is in talks to acquire a majority stake in Canada's Champion Petfoods for more than $ 2 billion , according to people familiar with the matter, as the consumer- food giant boosts investment in higher growth businesses to help offset its struggling packaged- foods operations.

“Champion Petfoods continues to be privately held with investment from our Canadian partner, (Toronto’s) Bedford Capital, and our vision remains — build trust with pet lovers everywhere.”

The company announced in 2017 it was building a 37,000-square-metre kitchen in Parkland County’s Acheson Industrial Park on Edmonton’s western border that would greatly expand its production capacity.

The site was expected to cost more than $263 million.

Chief executive Frank Burdzy said at the time there wasn’t enough room to expand the existing Morinville facility, but the site would continue current output and could add other products.

The firm has a small operation in Oakville, Ont., and a production kitchen in Auburn, Ky., that opened in 2016 to serve the American market.

Ronaldo to Juventus? Reports of sensational transfer gaining steam

  Ronaldo to Juventus? Reports of sensational transfer gaining steam Ronaldo to Juventus? Reports of sensational transfer gaining steamSky Sport Italia's Gianluca Di Marzio revealed Tuesday that Juventus is thinking about signing Cristiano Ronaldo from Real Madrid, corroborating rampant reports in the Spanish press that the Portuguese superstar is agitated in the capital and ready to leave.

Nestlé is in talks to buy a majority state from the pet food maker for more than US$ 2 - billion as it battles to convince investors that it has a long-term plan. In this environment, Champion Petfoods would seem to be a natural fit. The company, now in its fourth decade, has grown from 12 employees

Champion Petfoods — Maker of award-winning Biologically Appropriate™ ORIJEN and ACANA dog and cat foods — learn more about Our unique Biologically Appropriate™ foods , specially equipped kitchens and fresh local ingredients have earned us a reputation for innovation as well as some

The company has a total of 550 employees and sells its products in more than 80 countries.

It was founded in 1975 by Reinhard Muhlenfeld, a German immigrant who bought a feed mill in Westlock with other investors and later expanded to Barrhead.

Class action lawsuits were filed against Champion in March in California, Wisconsin and other states alleging its dog food contains levels of heavy metals and toxins that might make the food unsafe, and this was not disclosed.

The company says its products are safe, none has been recalled and describes the claims as baseless.

It has filed to have the lawsuits dismissed.

gkent@postmedia.com

twitter.com/GKentYEG

Zero NHL franchises on Forbes list of top 50 most valuable sports teams .
The NFL dominated Forbes’ annual ranking of the 50 most valuable sports teams, and not a single NHL franchise was able to crack the list. The post Zero NHL franchises on Forbes list of top 50 most valuable sports teams appeared first on Sportsnet.ca.Forbes released its annual ranking of the 50 most valuable sports teams Wednesday, but not a single NHL franchise managed to crack the list.

—   Share news in the SOC. Networks
This is interesting!