Nexus Capital Management has officially acquired the premium pet food brand after several consecutive quarters of underperformance under The J.M. Smucker Company ownership.
While its pet food segment remains The J.M. Smucker Company’s most profitable business, cat food and dog treats are outperforming the company’s premium dry dog foods by leaps and bounds.
Rob Ferguson, general manager of pet food and snacks for The J.M. Smucker Company, highlighted the company’s success in “reinvigorating” its cat food and treat portfolio.
The company reported its fourth quarter and fiscal 2020 earnings, showing strong growth in retail businesses and e-commerce but sharp declines in away-from-home sales.
Thanks to two major acquisitions, The J.M. Smucker Company boasts a variety of pet food and treat products, from value brands to premium options, that currently lead the company’s overall sales.