pet treats business for $1.2 billion in cash, as the cereal maker builds its pet food portfolio at a time people are increasingly adopting cats and dogs.
The bet has paid off for the company as consumers staying at home have adopted more pets over the past year to help relieve stress during the COVID-19 pandemic, and are buying premium foods for their pets.read more General Mills' sales of pet foods rose 13% for nine months ended Feb. 28, while Tyson Foods' pet treats portfolio recorded more than $240 million in net sales in the 12 months ended April 3.
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