Seviroli has been family-owned and operated since its founding in 1960.
The FDA is responsible for overseeing the safety of 78% of the US human food supply.
The dip of just 0.1% was the first time in 21 months that inflation has fallen.
“The purchasers of pet food are pretty brand loyal. It takes a real shock to shake things up” – Garyth Stone at Houlihan Lokey.
The deal is the first made by Second Nature Brands since private-equity firm CapVest bought the business in April.
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More than 100 jobs could reportedly be lost at a number of locations.
Last month, the company announced its UK arm was “not a strategic fit”.