The premium pet food and treat manufacturer plans to construct a new manufacturing plant to increase production, office space and raw material storage.

The acquisition is expected to take Trouw's feed production "to a higher level."

The company will primarily process byproducts from its poultry operations into nutritious and sustainable ingredients for dog and cat food.

The company reported a nearly 30% increase in net sales for the full year 2020 and an annual net loss of $3.2 million.