FINANCIALS & ECONOMY

The company’s feed division, Mowi Feed, also reported record earnings and its second-highest sales volumes.

The acquisition represents an annual volume transfer of around 80,000 tons of compound feed.

For the third quarter ending Sept. 30, Nestlé’s Pet Care segment reported net sales of US$5.47 billion, down from US$5.73 billion during the same period last year.

The company said this uptick was aided by effective raw material procurement during a period of volatile commodity prices, which stabilized input costs.

For more than a decade, OBP has struggled with outdated infrastructure, mismanagement, and leadership instability.

In other news, Mowi Canada East reported a large mortality event at three of its sites, resulting in the loss of approximately 400,000 fish.

Novonesis prides itself in having 40 research and development centers and 30 production sites all over the world.

Freshpet partly credited strategic marketing and distribution of its product offerings to its Q2 success.

With an expanding client base, strengthened brand presence and growing exports, BRF’s pet food business continues to provide a buffer against volatility in its core poultry operations.

Post Consumer Brands, which houses the company’s pet food, saw net sales fall 9.3% to US$914 million.