Nestle Buys Spillers From Dalgety
Feb. 04, 1998
VEVEY, Switzerland (AP) _ Food and drinks giant Nestle said Wednesday it has reached an agreement to buy Dalgety PLC's Spiller pet food operation for 715 million pounds, or $1.2 billion.
The deal, which is subject to approval by Dalgety shareholders and by regulatory authorities, is meant to cement Nestle's position as a big global player in the expanding pet food business.
Nestle bought the U.S. firm Alpo in 1994 and hopes that the Spiller purchase will boost its position on vital European markets. It is best known for its Friskies brand.
Spiller is best known for its Felix brand of cat food and Bonzo and Fido dog food. The company bought out the pet food business of Quaker Oats in 1995 and since then has undergone extensive changes.
In a statement, Nestle said it would take over Spiller's 13 factories in Europe and saw no need for a big overhaul. Nestle will relocate key activities of its European pet food unit to London.