May 30, 2016 8:26 PM ET

Food Products

Company Overview of Blue Buffalo Co., Ltd.

Company Overview

Blue Buffalo Co., Ltd. produces and distributes dog and cat food in the United States. It offers dry foods, wet foods, and treats for puppies, adult dogs, and senior dogs; and dry foods, wet foods, treats, and litters for kittens, adult cats, and mature cats. The company was incorporated in 2012 and is based in Wilton, Connecticut. Blue Buffalo Co., Ltd. operates as a subsidiary of Blue Pet Products, Inc.

11 River Road

Wilton, CT 06897

United States

Founded in 2012

Phone:

203-762-9751

Fax:

203-762-2526

Key Executives for Blue Buffalo Co., Ltd.

Chief Executive Officer
Age: 58
Founder and Chairman
Age: 76
Senior Vice President and General Counsel
Chief Human Resources Officer and Senior Vice President
Senior Vice President of National Accounts & In Store Education
Compensation as of Fiscal Year 2015.

Blue Buffalo Co., Ltd. Key Developments

A Federal Judge Approves Blue Buffalo's $32 Million Class Action Settlement

Blue Buffalo Co., Ltd. announced that the thousands of customers who bought mislabeled Blue Buffalo pet food products will get a refund after a federal judge approved a $32 million settlement in St. Louis. The company admitted that some of its dog and cat food contained poultry byproduct meal even though its bags and marketing materials said they did not contain the ingredient. The company maintains that it was defrauded by a supplier, Wilber-Ellis Co., that provided the poultry byproduct meal and mislabeled some of the ingredients shipped to its customers. Several customers filed a lawsuit in federal court in St. Louis in October 2014 seeking class action status, alleging Blue Buffalo's True Blue Promise was misleading and that they paid a premium price for the company's products based on the false information. U.S. District Judge Rodney Sippel approved a settlement that gives Blue Buffalo customers who filed a claim up to $100 for those without a receipt and up to $2,000 for those with a receipt for products purchased between May 7, 2008 and December 18, 2015. More than 100,000 customers filed claims by the April 14 deadline. The judge also approved attorney's fees and expenses for 25% of the settlement, or $8 million.

Blue Buffalo Company, Ltd. Announces Agreement to Settle Class Action Lawsuits

Blue Buffalo Pet Products Inc. announced that its subsidiary Blue Buffalo Company, Ltd. has entered into a settlement agreement in the class action lawsuits brought on behalf of consumers and consolidated in the Multi-District Litigation pending in the United States District Court for the Eastern District of Missouri. The plaintiffs in the lawsuits claim, among other things, that certain Blue Buffalo products were not consistent with the “True Blue Promise. Blue Buffalo denies any wrongdoing, and has agreed to this settlement to eliminate the uncertainties, burden and expense of further litigation. Under the terms of the agreement, Blue Buffalo will pay $32 million into a settlement fund to settle the claims of the plaintiff class. Any attorneys’ fees awarded by the court and all costs of notice and claims administration will be paid from the settlement fund. The amount that each class member who submits a claim for reimbursement will receive will depend on the total amount of Blue Buffalo products purchased by the claimant during the class period and certain other conditions. The settlement agreement is subject to preliminary and final approval by the court. In connection with the proposed settlement, the company expects to record a pre-tax charge of $32 million ($20 million after tax) which will be recorded as a discrete item in SG&A in the fourth quarter of 2015. The company intends to pay for the settlement with cash on hand. Any recovery from third parties and insurance related to this settlement would be recorded when realized.

Blue Buffalo Appoints Michael Eck as Board of Director

Blue Buffalo, announced that Michael Eck is joining its Board of Directors. Michael is currently Co-Founder and Co-Chairman of the Board of Steer for Student Athletes. He is also an independent board member of USA Ultimate, the National Governing Body for the sport of Ultimate in the United States. Until recently, Michael was Global Head of the Consumer and Retail Investment Banking Group at Morgan Stanley, and has close to 30 years of experience advising public and private boards, senior management teams, entrepreneur owners and financial sponsors.

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