SAN FRANCISCO — A food and pet supply company hit the $150,000 mark with a $150 million deal with a U.S. company that specializes in making cat food.
Cat food maker Puree Cat Foods Inc. made its deal with Purees, which supplies raw cat food to pet stores, the companies said Thursday.
Purees is based in the San Francisco Bay Area and has offices in Seattle, California and Las Vegas, Nevada.
In its announcement, Purees said it had secured a 25% stake in Purees from a $3.9 million financing round led by the Chinese investors.
It said it is also in talks with other investors to join the company.
The deal also includes Purees’ global headquarters in the U.K. and $3 billion in assets, according to a release from Purees.
Purees is owned by China-based Sun Yat-sen Group, a Chinese conglomerate that is widely viewed as one of the world’s largest purveyors of cat food and cat food accessories.
The company’s shares were down 5% to $8.18 in New York at the close of trading.
The U. S. company is in talks to sell the company’s business, including Purees brand, Puree cat foods and Purees cat food product line, Purese said in its announcement.
The Purees acquisition follows another deal the company struck in February, acquiring Pet Foods Inc., which provides cat food for pet stores.
The companies said they are also in discussions to sell Purees products to pet food makers.
Pet Foods, which provides a range of cat foods including Puree and Cat Chow, also said it has sold Purees brands like Meow Mix and Cat Snack to pet store chains, including PetSmart and PetSmart Plus.