General Mills said Friday that it plans to buy high-end pet food maker Blue Buffalo for $8 billion. Blue Buffalo says its dog and cat foods are free of artificial colors and contain fruits and vegetables. Blue Buffalo Pet Products Inc.'s revenue rose 11 percent in 2017 from the year before. General Mills Inc. will pay $40 for every Blue Buffalo share. Once the deal closes, which is expected by the end of May, Blue Buffalo will be run as a new pet operating segment at General Mills.

Source: ABC News February 23, 2018 11:20 UTC