General Mills Inc. has made a name for itself with kitchen-table staples ranging from Honey Nut Cheerios cereal to Betty Crocker cake mix. Now the packaged-food giant is looking to tap into fast U.S.

General Mills Inc., known for cereal brands such as Cheerios, made its fifth acquisition in the pet food sector since 2018 by buying the North American unit of Whitebridge Pet Brands in a deal valued at $1.

General Mills said it had agreed to acquire a North American cat feeding and pet treating business from European private-equity firm NXMH in a deal worth $1.45 billion.

General Mills agreed to acquire Whitebridge Pet Brands' North American cat food and pet treat business from NXMH for $1.45 billion. Why it matters: Both the cat food and pet treat segments continue to grow,

The deal is the fifth major pet-food acquisition for General Mills since it reentered the space in 2018 with its purchase of Blue Buffalo.