I-Tail Corporation PCL (ITC), part of Thai Union Group, has completed the acquisition of Phelps Industries, commonly known as Phelps Pet Products.
The acquisition of the American manufacturer, for an enterprise value of US$160m, adds expertise in dog nutrition, air-dried foods and jerky-style pet treats to ITC’s existing strength in premium wet cat food. It also establishes a manufacturing presence in ITC’s largest market, strengthens its supply network, and adds a complementary customer base across multiple retail and distribution channels.
Founded in 1966, Phelps Pet Products collaborates with leading retailers and pet food brands across the United States and Canada as a contract manufacturing partner for clean-label, protein-first pet treats and specialty pet nutrition products. In 2025, the company generated net sales of US$70.3m from manufacturing facilities in Illinois and Wisconsin.
Roy Chan, chief executive officer of i-Tail, said: “As pet owners increasingly treat their pets as family, demand continues to grow for a wider range of treats, snacks, and innovative pet food solutions. Phelps is a strong strategic fit for i-Tail, bringing differentiated products, expertise, and market capabilities that complement our strengths and deepen our presence in one of the world’s largest pet food markets.
“This acquisition marks an important milestone in our growth journey, supporting our aspirational target of reaching up to US$ 1.5 bn in annual revenue by 2030, while creating long-term value for our customers, pet parents, and shareholders.”
Rick Ruffolo, chief executive officer and president of Phelps Pet Products, added: “Joining i-Tail marks an exciting new chapter for Phelps’ customers, employees, and vendor partners. Both companies have a decades-long history of serving the pet industry, being leaders in certified sustainable manufacturing and sourcing practices, and providing innovative products to our customers.
“Combining our experience in the North American market with i-Tail’s global reach and expertise in pet nutrition, we can broaden our collective product offerings through cross-selling and exploring opportunities in new categories which will enable our respective customers to innovate and grow market share.”
