“Love them like family, feed them like family.”
That’s the motto of pet food maker Blue Buffalo Co., but it nicely captures the current sentiment of pet owners … and all makers of pet food. Pet food is a $26 billion a year business, growing at 6 percent and showing no signs of slowing, according to market research firm Packaged Facts. And higher-end products like those at Blue Buffalo – typically $60 and up for a 30-lb. bag — are enjoying even higher growth rates.
Speaking of Blue Buffalo, it was the last independent of the five top-selling pet food companies … until now. At the end of February, General Mills announced a deal to acquire the premium pet food company for $8 billion. Finish the article here.
