Nestle Purina PetCare Company To Acquire Petfinder
PR Newswire
ST. LOUIS
ST. LOUIS, June 5, 2013 /PRNewswire/ -- Nestle Purina PetCare Company today announced that it has signed a Purchase Agreement to buy Petfinder, the largest on-line pet adoption website, from Discovery Communications LLC. This strategic transaction, Nestle's first major acquisition of a digital property, will allow Nestle Purina to broaden its support for pet welfare organizations and strengthen its role as a leading provider of on-line pet-related information.
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The transaction is expected to be completed in July. Other details of the transaction, including the acquisition price, are confidential.
The Petfinder website reaches a large and engaged audience of animal lovers and pet owners across the U.S., Canada and Mexico, achieving more than 100 million visits each year. Nestle Purina PetCare Company aims to enrich and add value for the site's pet-loving visitors, while the on-line space offers the company a digital and mobile platform to engage with a growing group of highly involved pet consumers.
"Petfinder is the on-line leader in linking prospective adopters with adoptable pets, and a resource for pet owners' life-long relationship with their pets," says Joe Sivewright, President, North American Pet Food, Nestle Purina PetCare Company. "We value Petfinder's existing framework, which is fully aligned with our commitment to pet welfare organizations and our belief that pets and people are better together. We plan to strengthen that solid framework with our extensive nutritional expertise and vast knowledge of pet welfare."
Petfinder has been a leader in the animal welfare movement, culminating in more than 22 million adoptions since the site's founding in 1996. Since that time, the company has expanded its services beyond connecting prospective adopters with adoptable pets, such as re-adoption research and pet care resources.
"Discovery has been a proud owner of Petfinder, and we are extremely supportive of its animal welfare mission," says JB Perrette, Chief Digital Officer, Discovery Communications. "As we have re-focused our ad-supported digital mission on being the number one non-fiction video/media company across all screens, we were eager to find a great new home for this unique company. We are confident that Nestle Purina is a noble steward of the Petfinder mission and will further fuel the company's growth. Discovery looks forward to continuing our relationship with Petfinder through support of the Petfinder Foundation and through our valued advertiser relationship with Nestle Purina."
RBC Capital Markets acted as exclusive financial advisor, and Proskauer Rose LLP served as legal counsel to Discovery on the transaction.
About Petfinder
Petfinder is the largest on-line, searchable database of animals that need permanent homes. With more than 315,000 adoptable pets from approximately 14,000 animal shelters and rescue groups throughout the U.S., Canada and Mexico, Petfinder has facilitated more than 22 million adoptions since it was launched in 1996. Petfinder also is an all-inclusive resource guide for how to select the right family pet and build a successful, life-long relationship.
About Nestle Purina PetCare Company
Nestle Purina PetCare Company promotes responsible pet care, community involvement and the positive bond between people and their pets. Annually, the Company invests more than $30 million in pet welfare and pet communities, and touches more than 2 million pets in pet welfare organizations with its donations and support and through programs such as Purina Pets for People, Purina Pro Plan Rally to Rescue and the Purina ONE Shelter Pet Program. A premiere global manufacturer of pet products, Nestle Purina PetCare Company is part of Swiss-based Nestle S.A., a global leader in nutrition, health and wellness.
SOURCE Nestle Purina PetCare Company
