Simmons to Acquire Menu Foods

Menu Foods in Toronto, Canada, has agreed to be acquired by Simmons Pet Food of Arkansas, US, for $239m.

Under the agreement, Simmons will acquire the fund and assume its existing debt.

Nearly 45% of Menu Foods’ stock owners have agreed to sell their shares to Simmons.

The companies expect the deal to be completed in the fourth quarter of 2010.

In 2007 Menu Foods recalled about 60 million cans of pet food across North America because of a suspected melamine contamination, resulting in the deaths of at least 14 pets.

The company estimated the recall cost about $55m.