Mars Inc. Could Agrees $9.1 Billion Deal with Pet Company VCA Inc.

Virginia, Mars Inc. announced today that it agreed a deal worth $9.1 billion with pet health care company VCA Inc, subject to the approval of the latter’s shareholders.

Mars will pay for the company $93 per share of VCA, 30% higher than the stock’s close on Friday. Mars CEO Grant Reid said in a statement released to the press today that “VCA is a leader across pet health care and the opportunity we see together.” VCA has nearly 800 animal hospitals with 60 diagnostic laboratories throughout the United States and Canada. Mars described the company as one of the largest and most diverse pet healthcare companies, operating across four divisions including veterinary services, laboratory diagnostics, imaging equipment and medical technology, and pet care services.

Mars is famous for its confectionery that includes brands such as Galaxy, Mars and Bounty chocolates. Recently it launched a pet business that provides pet owners with their pets’ needs of food and healthcare.

Source: Qatar News Agency