Mars Inc., a provider of a diverse portfolio of confectionery, food and pet care products and services, has acquired Heska Corp., a provider of advanced veterinary diagnostic and specialty products. Mars acquired the firm for $120 per share.
Heska sells, manufactures, markets and supports diagnostic and specialty services and focuses on investing in technology, research and development and strategic partnerships with leaders in diagnostics and treatments.
“This transaction will bring together highly complementary businesses with a strong strategic and cultural fit that furthers our purpose to create A BETTER WORLD FOR PETS™,” says Nefertiti Greene, president of Mars Petcare, Science & Diagnostics. “This comprehensive diagnostic offering will mean broader coverage across diagnostic products, services, and technology, and will accelerate R&D for novel solutions.”
Lazard served as the financial advisor for Mars, and Skadden, Arps, Slate, Meagher & Flom LLP acted as Mars’ legal advisor. BofA Securities, Inc. and Piper Sandler & Co. served as Heska’s financial advisors, and Gibson, Dunn & Crutcher LLP acted as Heska’s legal advisor.