Dive Insight
Rob Vitale (CEO, Post Holdings) has not been shy about making acquisitions. During his eight-year tenure, the company has snapped up Almark Foods (maker of hard-boiled and deviled egg products), Bob Evans Farms’ packaged foods business, and Peter Pan peanut butter, among others. However, its previous deals have largely focused on traditional food categories.
The move into pet food not only places Post in a fast-growing industry, but also allows the St. Louis–based company to capitalize on synergies between human and pet food. Both categories rely on many of the same natural dog food ingredients, giving Post additional buying power and logistical advantages.
The company will also benefit from shared distribution channels—for example, trucks delivering Honey Bunches of Oats cereals can now also carry Peter Pan, Malt-O-Meal, Rachael Ray® Nutrish®, and Kibbles ’n Bits® products.
“We hope this division will continue our history of creating value with a buy-and-build approach to categories,” Vitale said in a statement. “These iconic brands are an ideal fit for this strategy.”
Mark Smucker (CEO, The J.M. Smucker Co.) added that the sale aligns with Smucker’s long-term focus.
“The strategic allocation of resources across the portfolio is a key driver of our long-term growth,” Smucker said. “As a result of implementing this proven strategy, we have been able to streamline our business, improve our margin mix, and continue to drive shareholder value.”
Although Post is a public company, it often operates like a private equity firm, focusing on growth, cash flow, and “portfolio optimization” rather than simply expanding scale. In essence, Post seeks businesses that complement its existing portfolio and leverage its expertise in long-term brand building—making its entry into pet food a natural fit.
After the transaction closes, Post plans to create a new Post Consumer Brands pet food platform, the division that manages many of its top retail offerings. The company also expects future investment opportunities within the pet food category. Approximately 1,000 employees will join Post once the deal is completed.
As part of the acquisition, Post is acquiring manufacturing and distribution facilities in Meadville, Pennsylvania,manufacturing facility as well as the Bloomsburg, Pennsylvania manufacturing facility and Lawrence, Kansas.
According to Statista, the U.S. pet food sector is projected to reach $57.63 billion in revenue in 2025, up from $22.37 billion in 2014. The market is expected to register a compound annual growth rate (CAGR) of 8.8% through 2027.
In a CPG sector growth landscape where annual growth typically hovers in the low single digits, pet food has proven to be a standout category for large players. Post will now compete more directly with industry giants such as Nestlé Purina (maker of Purina and Fancy Feast), and General Mills, which entered the space with its $8 billion acquisition of Blue Buffalo (General Mills) in 2018.
Other major players, including Mars Petcare and Colgate-Palmolive (owner of Hill’s Pet Nutrition), have also invested heavily in the category.
Post said it will pay $700 million in cash and issue approximately $500 million in stock to Smucker, giving Smucker a continuing stake in Post’s growth, much of which will now come from pet food. Smucker originally entered the pet food business in 2018 through its $1.9 billion acquisition of Ainsworth Pet Nutrition, which derived about two-thirds of its sales from Rachael Ray® Nutrish®.
Smucker’s decision to divest these brands reflects a broader trend in the food and beverage industry, where companies such as Coca-Cola, PepsiCo, Nestlé Purina, and Unilever have executed multibillion-dollar divestitures to refocus resources on high-growth and core product segments.
Smucker Acquires Rachael Ray’s Dog Food Brand, Considers Selling Pillsbury
The maker of Smucker’s jam is expanding into pet food while simultaneously looking to divest some of its high-end human food brands.
[Did Rachael Sell Her Dog Food Nutrish?] J.M. Smucker Co., which also owns Folgers coffee and other well-known products, has reached an agreement to acquire Ainsworth Pet Nutrition — the company behind celebrity chef Rachael Ray’s Nutrish-branded dog food. At the same time, Smucker announced plans to sell its $370 million U.S. baking business, which includes the Pillsbury, Hungry Jack, and Martha White brands.
The $1.9 billion acquisition reflects the growing appeal of the premium pet food segment for major food manufacturers. Big food companies are diversifying their portfolios and moving away from traditional packaged and processed foods as consumers increasingly choose products perceived as natural and wholesome.
Earlier, General Mills, the maker of Yoplait yogurt and Cheerios cereal, acquired Blue Buffalo Pet Products for about $8 billion — signaling a strong shift toward the sustainable pet nutrition category.
For both General Mills and Smucker, premium pet food represents a promising growth avenue.“Healthy” and “natural” options now account for around 10% of the pet food market forecast for 2027 and continue to gain share.
Through this deal, J.M. Smucker will acquire Meadville, Pennsylvania-based Ainsworth Pet Nutrition, the manufacturer of Rachael Ray Nutrish. Nutrish’s premium dry dog food will join Smucker’s existing pet food lineup, which already includes brands like Nature’s Recipe.
“Ainsworth Pet Nutrition is an excellent strategic fit for our company, as the Rachael Ray Nutrish brand adds another high-growth, on-trend brand to our pet food portfolio,” said Mark Smucker, CEO of J.M. Smucker Co. “Nutrish is now one of the most recognized pet food brands in the United States.”
Smucker expects the acquisition to add approximately $800 million in annual sales and deliver $55 million in annual cost savings within three years.
As the company integrates Ainsworth, it continues to explore the sale of its U.S. baking division. While the Pillsbury and other baking brands remain strong, Smucker plans to concentrate on its core growth areas: coffee, pet food, and snacks.
Supporting the Rachael Ray Foundation® with Nutrish™
In 2008, celebrity chef Rachael Ray, in partnership with Ainsworth Pet Nutrition, launched the Nutrish™ pet food brand—driven by her commitment to making high-quality nutrition accessible to everyone. Inspired by recipes she created for her own pets, Rachael used real, wholesome ingredients to craft complete and balanced meals for dogs and cats. From the beginning, her mission went beyond nutrition: to give back to animals in need.
In 2016, this mission took formal shape with the creation of the Rachael Ray Foundation®, dedicated to funding essential food programs and support services for both pets and people.
About the Rachael Ray Foundation®
Since its inception, a portion of the proceeds from Nutrish food sales has been directed toward helping both animals and humans in need. The Rachael Ray Foundation® was officially founded with a mission to improve the lives of shelter animals and help children and families build healthy relationships with food and compassion.
To date, the foundation has donated over $100 million to various causes. While animal welfare remains a top priority, the foundation also supports human-focused initiatives, partnering with leading nonprofits across the country. These efforts include SPCA programs, veterinary technician training, and community initiatives addressing food insecurity.
A Shared Vision with Post
[Did Rachael Sell Her Dog Food Nutrish?] Since welcoming the Nutrish™ brand to the Post Consumer Brands portfolio in April 2023, its purpose has strongly aligned with Post’s mission to improve lives by making delicious, high-quality food accessible to all. Both Post and the Rachael Ray Foundation donations share a deep passion for animal welfare and community care.
Trace Quigley, Senior Marketing Director – Nutrish at Post Consumer Brands, serves as the company’s representative on the Rachael Ray Foundation Board of Directors.
“We are incredibly proud to support the work of the Rachael Ray Foundation through our Nutrish brand,” said Trace Quigley. “The foundation’s dedication to animal welfare is inspiring, and we’re honored to contribute to its ongoing efforts. Together, we’re ensuring that every bag helps animals in need.”
In 2024, Post Consumer Brands’ pet platform contributed more than $14 million to the Rachael Ray Foundation to further its mission. Nutrish continues to focus on innovation and impact—through new product formulations, updated packaging designs, and veterinary-evaluated recipes that reflect the brand’s commitment to quality and compassion.
“With our goal of introducing Nutrish to as many pets as possible, we expect growing sales to provide even more resources for the foundation to continue expanding its reach,” added Quigley.
Beyond financial contributions, Nutrish directly supports feeding programs at several animal shelters across the U.S., including the North Shore Animal League of America (NSALA), helping to nourish thousands of pets each year.
Through this ongoing partnership between the Rachael Ray Foundation® and Post Consumer Brands’ pet platform, we’re proud to play a part in improving the lives of animals in need—one meal, one act of care, and one bag at a time.
Conclusion: Did Rachael Ray Sell Her Dog Food Company
In conclusion, Rachael Ray has sold her dog food company. In April 2023, Rachael Ray’s Nutrish dog food brand was sold as part of a larger acquisition in which Post Holdings, Inc. purchased several pet food brands from The J.M. Smucker Co. for approximately $1.2 billion.
ST. LOUIS, Feb. 8, 2023 (GLOBE NEWSWIRE) — Post Holdings, Inc. (NYSE: POST), a leading consumer packaged goods company, announced that it had signed a definitive agreement to acquire select pet food brands from The J.M. Smucker Co. for $1.2 billion.
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