Scales pays US$23.2m for 60% of US petfood manufacturer

Thu, 13 Dec 2018

By Jenny Ruth Dec. 14 (BusinessDesk) - Mr Apple owner Scales Corp says it has bought 60 percent of a United States-based petfood manufacturer. Scales says it will pay US$23.2 million for the stake in Shelby JV LLC. It is buying that from founder and president Brett Frankel, who will retain the other 40 percent. Scales already owns a petfood ingredients business, Meateor. The transaction is unconditional except for the satisfaction of completion obligations and is scheduled to settle before the end of this month. “Shelby operates...

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