Mr Apple owner Scales Corp has announced that it has bought 60 percent of a United States-based pet-food manufacturer. Scales says it will pay $23.2 million for the stake in Shelby JV LLC, buying that from founder and president Brett Frankel, who will retain the other 40 percent.
Scales already owns a pet-food ingredients business, Meateor. The transaction is unconditional except for the satisfaction of completion obligations and is scheduled to settle before the end of this month.
According to an article on scoop.co.nz , Shelby has a strong strategic alignment with the operations of Meateor and will extend the range of proteins that Meateor presently offers. It will also offer an in-market point of contact for customers shared between the two businesses, Borland said. Shelby will add about 80,000 tons of product sales to Meateor’s sales volume of about 27,000 tons.