The Healthcare of Ontario Pension Plan and Bedford Capital are finalizing a deal to sell Edmonton-based Champion Petfoods to Ontario-based Mars Petcare Inc.
Best known for its lines of confectionery products, including Mars Bars, M&Ms and Twix, Mars has built a significant portfolio of pet food brands. Following the transaction, Champion’s brands will be absorbed into the portfolio, joining Cesar, Iams, Pedigree, Royal Canin and Whiskas.
Since the HOOPP first invested in Champion Petfoods in 2010, the company has grown from a regional player in Canada with some limited international sales to a global brand with a presence in more than 90 countries.
“With the recent closing of this transaction, we are pleased to see Champion Petfoods joining the Mars Petcare family where we are confident it will continue to deliver high-quality pet nutrition to pet lovers around the world,” said the HOOPP in a press release.
In other news, the Alberta Investment Management Corp. is looking abroad for growth opportunities.
During an annual investment conference in Abu Dhabi, Evan Siddall, chief executive officer of the AIMCo, participated in a panel about growth opportunities in today’s economy. According to a press release covering Investopia 2023, he said the AIMCo is looking to diversify its portfolio on a geographic basis.
The move comes in response to what he views as historic over-investment in the Canadian economy. The investment organization is particularly interested in expanding its presence in Asian markets, said Siddall, adding the firm is considering opening a satellite office in Abu Dhabi.