General Mills Completes $8 Billion Acquisition of Blue Buffalo Pet Products

Cleary Gottlieb represented General Mills, Inc. (General Mills) in its acquisition of Blue Buffalo Pet Products, Inc. (Blue Buffalo) for $40.00 per share in cash, representing an enterprise value of approximately $8 billion.

The transaction, which was announced on February 23, 2018, was completed on April 24, 2018.

General Mills is the third-largest natural and organic food producer in the U.S. with leading brands including Annie’s, Lärabar, Liberté, Cascadian Farm, Muir Glen, and EPIC. Founded in 2002, Blue Buffalo is the fastest-growing major pet food company making natural foods and treats for dogs and cats under the BLUE brand, which includes BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom, and BLUE Natural Veterinary Diet. General Mills will operate Blue Buffalo as a new Pet operating segment alongside its four current operating segments: North American Retail, Convenience Stores & Foodservice, Europe & Australia, and Asia & Latin America.