i-Tail Corporation Public Company Limited (SET: ITC) has informed the Stock Exchange of Thailand that the company’s Executive and Sustainable Development Committee (Executive Committee) has proceeded with the acquisition by i-Tail Americas, Inc. (ITA), a wholly owned subsidiary of the company, of all issued and outstanding shares of Pet Treat Holdings, Inc. (PTH), a Delaware corporation, at an enterprise value of $160,000,000.
The acquisition was completed on 22 October 2026. As a result, the PTH and its wholly owned operating subsidiary, Phelps Industries, LLC (Phelps), became indirect wholly owned subsidiaries of the Company through ITA.
PTH is a business concerning manufacturing and distribution of pet food products and pet treats. The main objective of this acquisition is to expand the group’s business opportunities in the United States.
On July 24, 2026, ITC’s Board of Directors Meeting No. 5/2026 approved an investment through the company’s wholly owned subsidiary, and authorized the Executive Committee to determine, consider, approve, and undertake any actions necessary or relevant to complete the transaction within the approved framework.
