McLean-based Mars Inc., like rival and soon to be Rosslyn-based Nestle USA, is so much more than candy.
With that in mind, Mars on Tuesday announced its successful acquisition of VCA Inc. and its 800 small veterinary hospitals in the U.S. and Canada, its animal diagnostic imaging company and its doggy day care and overnight camp franchise, Camp Bow Wow.
Mars, one of the nation’s largest privately held companies, paid $93 per share for VCA (NASDAQ: WOOF) in a deal valued at $9.1 billion. The acquisition was first announced in January and Mars received Federal Trade Commission approval in late August. The FTC required Mars to divest of 12 specialty or off-hours emergency animal hospitals out of its portfolio of more than 1,900 in the U.S. and Canada.
VCA will operate as a separate business within the Mars Petcare line. Its co-founder, Bob Antin, will continue to lead VCA as CEO and the company will remain headquartered in Los Angeles.
Mars doesn’t get to $35 billion in annual sales on…Read the full story from the Washington Business Journal.