CHEYENNE, WY. — Caduceus Software Systems, Corp., a publicly traded holding company based in Wyoming, announced earlier this month it has completed its full acquisition of McLovin’s Pet Food. The two companies initially reached an acquisition agreement in April 2021.
"We have been working tirelessly to get to this point,” said Alex Chen, chief executive officer and director at Caduceus. “We are looking forward to the next step in this journey. McLovin's team has been actively developing sales and new distribution channels. We cannot wait to announce the progress achieved so far on that front. This is the first of many great announcements by the company regarding execution of its strategy to create value for shareholders and to reach the requirements for an up-listing to the NASDAQ."
Caduceus hopes to benefit from its entry into the “recession-proof” pet market. The US pet food market is expected to exceed $44 billion in sales this year, according to projections by the American Pet Products Association (APPA).
"Working with Caduceus and its dedicated team has already started reaping rewards before even the closing happened,” said David Ji, chief executive officer of McLovin’s. “I believe becoming part of Caduceus is the catalyst that will propel McLovin's higher. We are very fortunate to have been able to raise funds to expand our operational capacity with the help of the Caduceus team and its backers. The demand for pet food, treats and accessories is very strong and shows continuous growth. We are well positioned to meet that demand with our higher quality products."
On Aug. 17, Caduceus announced it has expanded distribution of McLovin’s dog treat line to include online mass merchandise platforms Kroger.com and Walmart.com, “the nation’s top two major league grocery chains,” according to the company.
“I am grateful that both teams have worked so hard to bring this most sought after and commercially valuable agreement to fruition,” Ji commented. “We are excited about being able to bring the McLovin's products to the large and loyal customer bases that purchases their products through Kroger's and Walmart's marketplaces."
The company teased another deal with Kroger is in the works to expand sales and distribution, which it expects to announce “within weeks.”
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