Bedford, HOOPP to exit Champion Petfoods with sale to Mars Petcare

Champion Petfoods was acquired in 2012 by an investor group led by Bedford Capital and Healthcare of Ontario Pension Plan.

  • Founded in 1985, Champion Petfoods is known in more than 90 countries through its two brands Orijen and Acana
  • Mars Petcare serves pet owners through products and services within veterinary health, nutrition, innovation and technology
  • Mars’ acquisition of Champion broadens it product offering with pet specialty and independent retail as well as broadening its digital commerce channels

Mars Petcare has agreed to acquire Champion Petfoods, an Edmonton-based specialty pet food manufacturer. No financial terms were released for the deal, which is expected to close in the first half of 2023.

The seller is an investor group led by Canadian private equity firm Bedford Capital and Healthcare of Ontario Pension Plan. The consortium acquired the business in December 2012.

Founded in 1985, Champion Petfoods is known in more than 90 countries through its two brands Orijen and Acana.

Mars Petcare, part of McLean, Viriginia-based Mars, is a global business that serves pet owners through products and services within veterinary health, nutrition, innovation and technology. Mars’ acquisition of Champion Petfoods broadens it product offering with pet specialty and independent retail as well as broadening its digital commerce channels, the company said.

Bedford Capital is a Toronto-based private equity firm that specializes in management buyouts, recapitalizations and shareholder buyouts. It invests in the business products and services sectors and was founded in 1982.

Healthcare of Ontario Pension Plan is a multi-employer, defined benefit plan serving Ontario’s hospital and community-based healthcare sector. HOOPP Capital Partners is the private capital arm of HOOPP and has a portfolio of more than C$16 billion.

JP Morgan Securities served as Mars’ financial advisor, and Skadden, Arps, Slate, Meagher & Flom acted as Mars’ legal advisor. Morgan Stanley & Co served as Champion Petfoods’ financial advisor, and Torys and Bennett Jones acted as Champion Petfoods’ legal advisors.