|dadoodas – Fotolia.com|
While you and I have been scarfing down M&Ms and Skittles, Mars Incorporated has been indulging its own appetite, but not for chocolate.
Best known as the maker of M&Ms, Skittles and other candy brands, the company recently announced it will acquire VCA, Inc. (Veterinary Centers of America) for $93 a share, or about $9.1 billion, including $1.4 billion in debt.
VCA owns nearly 800 vet clinics and veterinary specialty hospitals, along with ANTECH Diagnostics; the veterinary imaging company, Sound Technologies; and Camp Bow Wow, a dog daycare and boarding franchise.
Sweet On Cats
VCA will continue to operate as its own business within Mars Petcare, a press release says. The sale is subject to shareholder and regulatory approval and is expected to close in the third quarter of 2017.