i-Tail Corporation, the Bangkok-listed pet food manufacturer, has completed its acquisition of Phelps Industries LLC, which trades in the United States as Phelps Pet Products, for an enterprise value of USD 160 million. i-Tail announced completion on 26 October 2026.
What i-Tail is buying
Phelps was founded in 1966 and describes itself as a US contract manufacturing partner for clean-label, protein-first pet treats and specialty pet nutrition, making air-dried foods and jerky-style treats for retailers and pet food brands in the United States, Canada and other markets. It has manufacturing facilities in Illinois and Wisconsin and reported net sales of USD 70.3 million in 2025.
For i-Tail, which is best known for premium wet cat food, the deal adds a manufacturing base in the United States, its largest market, along with a treats and dog nutrition portfolio. Treats made up 20% of i-Tail’s pet food sales in the first half of 2026, and the company launched more than 400 new products between January and June. Chief executive Roy Chan linked the purchase to an aspirational target of up to USD 1.5 billion in annual revenue by 2030.
Rick Ruffolo, chief executive and president of Phelps, said the combined businesses would look to cross-sell and explore new categories for their customers.
For retailers and brand owners
Brands looking for a treat co-manufacturer, and shops sourcing treats, can compare suppliers in our pet food manufacturers and dog treats wholesale categories.
This item is based on desk research of i-Tail’s own announcement and trade press coverage. We have not spoken to either company.
Sources
- i-Tail Corporation, i-Tail completes acquisition of Phelps Pet Products, strengthening U.S. presence and broadening pet treats portfolio, 26 October 2026, checked 28 October 2026.
- Pet Food Processing, i-Tail acquires Phelps Pet Products, 26 October 2026, checked 28 October 2026.
